Suriname's state-owned energy, oil, and gas company, Staatsolie, says it plans to invest US$1.8 billion in its first offshore oil project with the possibility of taking up a 20 per cent stake in the Block 38 field project.
The company said it is considering all options to finance its participation, including cash reserves, bonds, loans, partnerships with strategic and/or non-strategic partners, and other forms of financing or a combination of options.
The company estimates that it will receive significant government revenues from the Block 38 development.
This amount, including royalties, profit oil, and taxes, will be between US$16-26 billion over the expected life of the production field of 20 years, depending on current oil prices.
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