Editing Economy of Suriname (section)

== Oil ==
The exploration and exploitation of oil adds substantially to the economy of Suriname at about 10% of the GDP.<ref>{{Cite web |title=Staatsolie - Suriname's National Energy, Oil & Gas Company - AGM Approves 2022 Financial Statements; Contribution of US$ 320 million to the State treasury |url=https://www.staatsolie.com/en/news/agm-approves-2022-financial-statements-contribution-of-us-320-million-to-the-state-treasury/ |access-date=2024-07-12 |website=www.staatsolie.com}}</ref> The national oil company, [[Staatsolie Maatschappij Suriname|STAATSOLIE]], is the motor behind Suriname's oil industry. Their core business is oil extraction and refining.

In 2012 STAATSOLIE produced {{convert|16200|oilbbl|m3}} a day.<ref>{{cite web | url=http://www.staatsolie.com/pdf/jaarverslag-staatsolie-final-20052013.pdf | title=Annual Report 2012 | publisher=Staatsolie | access-date=September 10, 2013 | url-status=dead | archive-url=https://web.archive.org/web/20131206204612/http://staatsolie.com/pdf/jaarverslag-staatsolie-final-20052013.pdf | archive-date=December 6, 2013 }}</ref> Staatsolie currently refines 16,500 barrels a day at Tout Lui Faut refinery in the District of Wanica. Furthermore, they own a 96 MW powerplant and a 189 MW hydro powerplant. They also have their own retail gas stations under their Gow2 brand. They also claim to be a well-established bunker supplier in the Caribbean region.<ref>{{Cite AV media |url=https://www.youtube.com/watch?v=YVPmT8wIHM4 |title=Staatsolie General Commercial 2023 |date=2024-02-19 |last=Staatsolie |access-date=2024-07-12 |via=YouTube}}</ref> 

In 2022 they reported revenue of USD 840 million. In that year their contribution to the state treasury was USD 320 million. In 2023 they made revenue of USD 722 million. The drop in revenue was because of the lower price for oil per barrel that year. Their contribution to the Surinamese state treasury was USD 335 million.

Other players in the off-shore oil industry in Suriname are Total Energies, Apache, Shell and Petronas. These companies have signed product sharing contracts with STAATSOLIE for the exploration and extraction of off-shore oil. The first of these contracts was signed in 2015. <ref>{{Cite web |date=2015-06-24 |title=Staatsolie en Apache Corporation sluiten PSC voor offshore-blok 58 |url=https://www.srherald.com/suriname/2015/06/24/staatsolie-en-apache-corporation-sluiten-psc-voor-offshore-blok-58/ |access-date=2024-07-12 |website=Suriname Herald |language=nl-NL}}</ref> In 2023 they signed three more of such contracts. <ref>{{Cite web |title=Staatsolie - Staatsolie sluit nog drie offshore-productiedelingscontracten met internationale olie- en gasbedrijven |url=https://www.staatsolie.com/nl/nieuws/staatsolie-sluit-nog-drie-offshore-productiedelingscontracten-met-internationale-olie-en-gasbedrijven/ |access-date=2024-07-12 |website=www.staatsolie.com}}</ref>

In 2020 the first off-shore oil was found. Currently STAATSOLIE, local partners and Surinamese companies, as well as the Surinamese government are actively anticipating on the development of the off-shore oil industry. <ref>{{Cite web |date=2024-01-08 |title=De West - Olie- en gasindustrie van Suriname boekt vooruitgang in 2023 - DE WEST |url=https://dagbladdewest.com/2024/01/08/olie-en-gasindustrie-van-suriname-boekt-vooruitgang-in-2023/ |access-date=2024-07-12 |website=dagbladdewest.com |language=en-US}}</ref><ref>{{Cite web |date=2023-01-28 |title=Veel in de planning voor Staatsolie in 2023 |url=https://www.dbsuriname.com/2023/01/28/veel-in-de-planning-voor-staatsolie-in-2023/ |access-date=2024-07-12 |website=Dagblad Suriname |language=nl-NL}}</ref><ref>{{Cite web |last=Mangoenwirono |first=Suzie |date=2024-03-08 |title=Local content cruciaal voor ontwikkeling Suriname |url=https://gov.sr/local-content-cruciaal-voor-ontwikkeling-suriname/ |access-date=2024-07-12 |website=Overheid van de Republiek Suriname |language=en-US}}</ref> The first production will start with the development of oil block 58 in 2028 <ref>{{Cite web |date=2024-06-05 |title=Block 58 offshore Suriname moves closer to development |url=https://www.offshore-mag.com/field-development/article/55056408/block-58-offshore-suriname-moves-closer-to-development |access-date=2024-07-12 |website=Offshore |language=en}}</ref>in which STAATSOLIE has a share of 20%.<ref>{{Cite web |title=Starnieuws - Jagesar: Staatsolie mikt op 20% belang in Blok 58-project |url=https://www.starnieuws.com/index.php/welcome/index/nieuwsitem/80062 |access-date=2024-07-12 |website=www.starnieuws.com}}</ref> It's projected that Suriname will make around USD 7 billion in the first five production years. <ref>{{Cite web |date=2024-05-19 |title=Olie-inkomsten Suriname $ 7 miljard in eerste vijf productiejaren {{!}} Suriname Nieuws Centrale |url=https://surinamenieuwscentrale.com/olie-inkomsten-suriname-7-miljard-eerste-vijf-productiejaren |access-date=2024-07-12 |website=surinamenieuwscentrale.com |language=nl}}</ref>