Suriname’s oil company revenues rise | Business

Suriname’s Staatsolie estimates its gross revenues for last year to be around US $ 400 million, nearly half of which will go to the government in the form of taxes, dividends and royalties.

That’s up from 2020, when the state-owned company said it paid US $ 132 million in taxes and royalties.

Staatsolie said in a statement that production of around six million barrels of crude from its Saramacca field had been reached.

“The extreme rainfall and associated flooded fields and production facilities in Saramacca district required additional efforts to meet the production target,” he said.

In addition: “A total of 2.97 million barrels of diesel and gasoline were produced, the highest production in the history of the Staatsolie refinery. “

Staatsolie is considering a review of its existing strategic plan, saying: “An attempt will be made with the partners, who are active in the high seas area, to materialize an investment decision taken last year. “

The company said it also took steps to become a shallow water operator and last October, and that a production sharing contract for Block 5 was signed with Chevron Exploration Suriname Limited.

“With this, Staatsolie is participating as a partner in offshore activities for the first time in its history,” the company said, adding that it was also engaged in the development of local content in the offshore oil industry. “This concerns the provision of local goods and services and the provision of jobs by Surinamese,” he said.

The oil company is also considering ways to reduce its carbon footprint in line with the global movement to meet new emissions standards.

“Staatsolie started mapping and auditing its shows last year. In the coming period, the company will also review and announce future targets in this regard, ”he said.

CMC

Barbara M. Stokes