Staatsolie Maatschappij Suriname N.V. (Staatsolie) concluded a US$ 1.6 billion bank loan with a group of 18 banks and financial institutions in total on Wednesday, 14 May 2025. With this loan, Staatsolie will finance its twenty percent participation in the GranMorgu project in the offshore block 58.

Staatsolie has secured a loan amounting to US$ 1.6 billion from a consortium of international, regional and local banks and financial institutions.

Staatsolie will use the new loan to fully repay the outstanding bank loan of US$ 130 million and finance the twenty percent participation in the GranMorgu project. Current estimates indicate that US$ 2.4 billion is required for this. In addition to the bank loan, the financing needed for GranMorgu will include own cash, cash flow from the business, and the proceeds from the bonds issued in March 2025.

Staatsolie is highly regarded nationally and internationally, thanks to its solid track record– especially in its dealings with financial institutions. Strong governance and adherence to contractual obligations, combined with a positive outlook, provided a sound basis for securing this major loan.

About Staatsolie

Staatsolie is one of the leading companies in our country Suriname. Staatsolie is located in this hidden treasure of South America, where we passionately contribute to the advancement of our country. We do so by developing exploration activities, producing and refining crude oil to high-quality products, and providing local and international markets with these products.