The state-owned oil company, Staatsolie, is a vertically integrated company active in exploration, drilling, and the production and refining of petroleum and petroleum products.  The company also generates electricity.  Offshore exploration by international oil companies has proven the existence of oil and gas resources.  Expectations are that offshore oil production will start in 2028.  Shore base facilities are expected to be developed to serve the emerging oil and gas industry.  Exploration projects continue onshore, nearshore, and offshore.  Development of local content is a priority for Staatsolie. 

In the energy sector there are two major players:  the National Power Company (EBS) that operates Suriname’s power grid, generating 30% of the country’s electricity; and the Staatsolie Power Company Suriname (SPCS) that generates 70% of Suriname’s electricity (hydro and thermal power) and is a subsidiary of Staatsolie.   Expectations are that the need for residential power use will grow steadily in the coming years.  Studies on the potential contribution of solar energy to Suriname’s electrical grid, as well as hybrid systems for the interior region, small solar projects, or mini-grids in the coastal area, are being conducted.

Sub-Sectors 

Energy equipment, solar heating systems, equipment for the oil and gas sector and engineering services are the best prospects.  

Resources 

Power Company Suriname: https://nvebs.com/over-ons/procurement-notices

Staatsolie: https://smesupplierportal.sr/#/home