(de Ware Tijd) PARAMARIBO – In three years Suritex, Staatsolie’s fuel distribution network, must hold the market leader position in Suriname. The company’s current market share is between 35 and 40 percent, Staatsolie managing director Marc Waaldijk tells de Ware Tijd. SOL is presently market leader. Suritex will be given a new name this year and the transformation of the Texaco service stations will gradually commence. De Ware Tijd learns that by September some service stations will get a makeover. Waaldijk admits Staatsolie is booming under the current price for oil for it means increased revenues for the company. However, if the price keeps rising it could lead to social unrest. Some countries are already facing difficult times with a slight increase, but Suriname can take a blow with its modest oil industry. The current price of US$ 80 to 100 a barrel does not have to cause tension, Waaldijk says. The Staatsolie top man points out that the takeover of the Texaco fuel distribution network has gone very smooth. Suritex will continue to exist as a Staatsolie subsidiary. In the meantime preparations are underway for the refinery expansion project at Tout Lui Faut. Sixty percent of the detailed designs have been completed and next month the first post will be pile driven. This will be the official start for the construction of the new refinery. Some hundred men will be working on the site. Exploration for oil will continue this year to increase Staatsolie oil reserves. Waaldijk expects to add new land reserves to the existing reserves by end 2012. Prospects to strike oil are good so far. Exploration drilling at sea is scheduled for 2013. Hydro-energy and bio fuel are in the development stage. In 2014-15 hydro-energy works will be completed to add 60 megawatt to the generating capacity of the Afobakka dam. The Staatsolie executive says that prospects for the bio fuel project in Nickerie are excellent. He explains that it is important that Staatsolie looks ahead and start with the development of renewables.
