Staatsolie Hydrocarbon Institute N.V. (SHI)
Suriname's petroleum regulator attracting international partners, managing contracts, and safeguarding the nation's hydrocarbon data for generations to come.
Who is SHI
Managing Suriname’s Petroleum Resources
Staatsolie Hydrocarbon Institute N.V. (SHI) is a 100% subsidiary of Staatsolie, acting as the State agent on behalf of the Government of Suriname for all matters related to the petroleum sector. SHI concludes Production Sharing Contracts (PSCs) with international oil and gas companies and oversees all petroleum operations conducted under those contracts. Its core mission: to maximize the value of Suriname's hydrocarbon resources for the benefit of the country and its people.
Three core responsibilities
1. Basin management
SHI evaluates the oil and gas potential of Suriname's acreage, markets open blocks to international companies, and signs Production Sharing Contracts that set out the rights and obligations of all parties.
2. Contract management
SHI oversees all petroleum operations for the full term of each PSC — reviewing work programs and budgets, monitoring HSE compliance, and ensuring local content and social responsibility commitments are met.
3. Data management
SHI manages all technical petroleum data for Suriname, including geological, petrophysical and geochemical data, logs, maps, cores and cuttings. This data is stored in the National Data Repository and made accessible to stakeholders via online platforms and interactive tools.
What SHI does
Acreage promotion & bid rounds
SHI organises competitive bid rounds to attract experienced international oil companies to explore and develop Suriname's offshore and onshore blocks, including the Demerara and Shallow Offshore acreage areas.
Production Sharing Contracts
SHI negotiates and signs PSCs with international partners, setting clear terms for exploration, development and production ensuring Suriname retains maximum value from its hydrocarbon resources.
National Data Repository
SHI maintains Suriname's National Data Repository. A secure, centrally managed system covering all technical petroleum data. Data is made available to qualifying parties through the GeoPortal and GeoAtlas platforms.
Monitoring petroleum operations
SHI monitors all petroleum activities conducted by international and local operators in Suriname, ensuring compliance with Production Sharing Contracts, applicable legislation, and industry standards for safety and environmental responsibility.
Creating value for Suriname
The development of Suriname’s hydrocarbon resources extends beyond exploration and production. SHI works to maximize national value creation by supporting responsible resource management, promoting knowledge development, and ensuring that petroleum activities contribute to long-term economic growth and national development.
