Pre-tax profit US$444 million
PARAMARIBO — Staatsolie’s annual accounts for the 2025 financial year were approved on Friday (today) during the general meeting of shareholders. The state-owned company delivered a total of four hundred million US dollars to the state of Suriname in the form of taxes, dividends and royalties from participations in gold mines. Staatsolie was therefore responsible for approximately 30 percent of total government revenues and remained one of the most important pillars of the Surinamese economy. The company just announced this.
Together with subsidiaries Staatsolie Power Company Suriname and GOw2, Staatsolie achieved a combined turnover of 832 million US dollars in 2025. Pre-tax profit amounted to US$444 million. During the shareholders’ meeting, attended by President Jennifer Geerlings-Simons and various ministers, among others, the management presented the results achieved and expectations for the coming years.
“This successful financing confirms investors’ confidence in the future of the company”
Oil production remains stable
Onshore oil production remained stable. In 2025, 6.35 million barrels of oil were produced, slightly lower than the 6.41 million barrels in 2024, but within the annual target of six million barrels. According to Staatsolie, this result has been achieved thanks to continuous improvements in technology and operational processes, despite the natural decline in production fields.
The refinery also showed growth. Production of diesel and gasoline rose to 3.15 million barrels, compared to 2.9 million barrels a year earlier. In addition, sulfuric acid was produced commercially for the first time in 2025, adding a new product to Staatsolie’s activities.
Offshore projects executed according to plan
In terms of energy, SPCS supplied a total of 1.46 million megawatt hours of electricity through a combination of hydropower and thermal generation. This provided 69 percent of the electricity demand of Paramaribo and surrounding districts within the Epar network. Income from gold also contributed to stable financial results in a period of relatively lower oil prices.
An important part of 2025 was the further development of the GranMorgu offshore oil project in Block 58. Work is progressing according to plan and first oil production is still expected in 2028. Construction of the floating production and storage platform, the FPSO, is now approximately 50 percent complete. The work takes place at various yards in China and Malaysia. At the same time, other preparatory work for the project is also progressing according to schedule.
In addition, the commercial status of the Sloanea-1 gas field in Block 52 was established in 2025. This marks another important step towards Suriname’s first offshore gas project. The final investment decision for this project is expected in 2026.
Investors show confidence in Staatsolie
To finance its 20 percent participation in GranMorgu, Staatsolie raised 516 million US dollars last year through a bond issue. In addition, the company entered into a US$1.6 billion loan agreement with a consortium of international and local banks and other financial institutions. According to Staatsolie, this successful financing confirms investors’ confidence in the future of the company.
Staatsolie also remained active on a social level. Together with the Staatsolie Foundation for Community Development, 2.7 million US dollars was invested in social projects in 2025. To mark the company’s 45th anniversary, an additional three million US dollars were released for sustainable development projects.
Focus on growth and sustainable energy
General manager Annand Jagesar looks back positively on the past year. According to him, Staatsolie has delivered strong financial performance, kept oil production stable and made important progress in the development of offshore oil and gas projects.
In the coming years, the company remains committed to further offshore exploration, maintaining onshore production around six million barrels per year, expanding the capacity of the Brokopondo hydroelectric power station and the further development of green energy.
