Staatsolie reported the following in its annual report 2016 about a current account payable and Loan to Government of Suriname (page 51/52 annual report): Current account Government of Suriname ‘The current account Government of Suriname consists of the Government’s contribution…
There are no in-kind flows and sale of the state’s share of oil and mining in 2016 reported. Through NV1, state owned entity, the Republic of Suriname gains a 30% participating interest in the Saramacca project based on the Letter…
In addition to the reconciliation of material financial flows between reporting extractive companies and Government, the following is included in this report: The sale of the state’s share of production or other revenues collected in-kind (5.4.1) Financing of companies by…
According to an overview of GMD, dated April 18, 2019, regarding the mining rights / licenses for the category gold, diamond and other ores issued in 2016 are presented in the table below: Note that we do not express any…
The content of a mining license is not publicly disclosed by MONR. Generally, the minister of MONR, based on the advice of GMD, approves the requested Mining rights with references to the: “Mining Decree” E-58 (S.B. 1986 no. 28), containing…
Next to its main tasks the GMD is: providing service deals with geological mapping and manufacturing; performing inventory of the occurring of ores/minerals in Suriname; advising to the minister of MONR regarding mining rights and their monitoring. They perform services…
No PSCs were signed in 2016 with IOCS, therefore no disclosure is mentioned. Staatsolie emphasizes that, based on the Petroleum Act, they are entitled to conclude commercial contracts with IOCs which therefore are not publicly available. However, Staatsolie has the…
We are informed by GMD, that they do not have data available at GMD regarding concessions for the Hydrocarbon sector. GLIS, informed that they do not recall having an overview of the property/area of interest of Staatsolie yet. Given one…
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…
A summary of the results of the 2016 reconciliation for the mining company is set out in the next table: Timing differences RGM This regard payment made by RGM on December 15, 2016, to NV1 based on amendment 2/2013 and…