The 5th annual meeting of the New Producers Group was hosted by Staatsolie in Suriname. The international group meeting focused on creating investment terms that incentivize oil companies to perform financially and operationally to the highest standards as well as contract administration and operational oversight issues. At the meeting, the group established three working groups, which aim to produce practical toolkits helping policymakers and regulators in the oversight of oil and gas operations. The meeting included training sessions on assessing environmental impacts, understanding the effect of evolving global climate policy on petroleum projects, establishing a fit-for-purpose NOC, and ensuring effective project oversight.
Key government and non-governmental stakeholders came together to discuss Suriname’s evolving petroleum sector such as the possible impact of an oil discovery on Suriname’s development path, realistic assessments of local content opportunities and governance challenges. This event brought together representatives from Suriname’s ministries of natural resources, labour, finance, commerce and industry as well as the national maritime authority and members of parliament, Suriname’s business association, civil society leaders and oil industry representatives. The discussion was enriched by participants from Ghana, Trinidad and Tobago, Colombia, Liberia and Guyana. This event was co-hosted by Suriname’s ministry of natural resources, the country’s national oil company (NOC), Staatsolie, and the New Producers Group, with support from the World Bank.
National Seminar for Suriname Summary – English
The National Seminar for Suriname was held in Paramaribo on 18 October 2017, during the annual meeting of the New Petroleum Producers Discussion Group. The National Seminar for Suriname brought together representatives from the ministries of natural resources, labour, finance, commerce and industry as well as the maritime authority, members of parliament, Suriname’s business association, civil society leaders, and oil industry representatives. This seminar was designed to help policymakers and national stakeholders understand the changes in laws and institutions that would be required in the event of a confirmed discovery.
National Seminar for Suriname Summary – Dutch
Het Nationaal Seminar Suriname werd op 18 oktober 2017 in Paramaribo gehouden, tijdens de jaarlijkse vergadering van de Discussiegroep Nieuwe aardolieproducenten. Tijdens het Nationaal Seminar Suriname kwamen vertegenwoordigers bijeen van de ministeries voor Natuurlijke Hulpbronnen, Arbeid, Financiën, Handel en Industrie, de maritieme autoriteit van Suriname, parlementsleden, de vereniging Surinaams bedrijfsleven, maatschappelijke organisaties en de aardolieindustrie. Dit seminar was bedoeld om beleidsmakers en nationale belanghebbenden te informeren zodat wordt nagedacht over de mogelijke wetgevings en organisatorische veranderingen bij een eventuele olievondst voor de kust van Suriname.
Contemplating Oil Prospects, Suriname and Guyana Look to Peers
The neighboring South American countries of Suriname and Guyana are adjusting to life in the spotlight of the global oil industry. As they adapt to new prospects that are both exciting and challenging, government officials in both countries hope to learn from the experiences of their peers in other new oil hotspots
The Cost of an Emerging National Oil Company
Emerging NOCs need to adjust their plans and ambitions to the new realities of price and competition for investment, writes Valérie Marcel.