Two Government entities (MOF and MONR) and 5 companies (of which SOE Staatsolie) participated in the reconciliation and reported the financial and non-financial flows between companies and Government as determined by MSG.
In 2016, Staatsolie, as regulator in the petroleum industry and acting as an agent of the Government, continued to promote offshore Suriname via the “Open Door Invitation”. Closed on September 7, 2016, this process encouraged several international oil companies to bid on Suriname’s open offshore blocks. These PSC-negotiations resulted in 2017, in assigning the offshore block 59 between a consortium consisting of the oil companies ExxonMobil, Hess Corporation and Equinor. A contract for Block 60 has been assigned to Equinor.
In the Hydrocarbon industry in Suriname licenses are awarded in the form of PSCs. In 2016, there were only bidding rounds.