Even as Suriname readies itself for its anticipated major oil and gas recovery programme, the state-run oil company, Staatsolie, is revealing plans for spending a whopping US$1.5 billion in the country’s offshore investment programme.
Staatsolie has updated its Strategic Roadmap and in its update the company has noted it will also be investing significantly in the development of a sustainable energy programme even as global chatter about moving away from fossil fuels intensifies.
The Surinamese company will, reportedly, also be moving to refinance its corporate credit facility with a view to tapping into the local, regional, and international financial markets and explore commercial opportunities with international partners.
The report lists Staatsolie’s “strategic goals” as “developing offshore capacity to act as an effective partner and eventually becoming an operator; de-risking and promotion of all open offshore acreage; the monetization of natural gas; boosting hydropower capacity and developing renewable energy opportunities.”