The proceeds of the facility will support Staatsolie in partially refinancing existing debt and funding its 20 per cent working interest in the GranMorgu upstream offshore oil project
CAIRO, Egypt, June 16, 2025/APO Group/ --
African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has acted as global coordinator and joint mandated lead arranger for a senior secured term loan facility amounting to US$1.6 billion, in favour of Staatsolie Maatschappij Suriname N.V. (Staatsolie), Suriname’s state-owned energy company, in a major boost to the country’s GranMorgu upstream offshore oil project.
Afreximbank, Banco Latinoamericano de Comercio Exterior, S.A. (Bladex), along with another major international bank and Staatsolie signed the agreement on the 14th of May 2025. Perella Weinberg acted as an advisor to Staatsolie on the transaction.
According to the terms of the agreement, the proceeds of the facility will support Staatsolie in partially refinancing existing debt and funding its 20 per cent working interest in the GranMorgu upstream offshore oil project.
The transaction, the first syndicated loan for which Afreximbank has been mandated on in the Caribbean region, also represents the largest project financing transaction in Suriname’s history and paves the way for the country’s initial offshore oil production by mid-2028.
Capital investments in the project are expected to exceed US$12 billion, with Staatsolie contributing 20 per cent, or US$2.4 billion. The expected revenue generation, depending on oil price, is projected at over US$26 billion for Staatsolie and the Government of Suriname over the operational life, significantly boosting economic development.
The project, which stands out for its low-carbon design, featuring a fully electric floating production, storage, and offloading unit with a production capacity of 220,000 barrels per day, will more than double Staatsolie´s production, providing Suriname with royalties and dividends.
Commenting on the transaction, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said that it will significantly transform the Surinamese economy. “Afreximbank is most pleased to have played a pivotal role in arranging this financing for Suriname's Staatsolie. It marks a significant milestone in the Bank's interventions in the Caribbean and a firm statement of intent by the Bank to support investments in strategic programmes/projects that are consequential to the transformation of the Surinamese economy. Beyond this investment, the Bank is supporting initiatives that will catalyse local participation in the country’s oil and gas sector with the aim of ensuring maximum benefits from the natural resource accrue to the indigenes of Suriname and the larger Caribbean.”
Staatsolie is engaged in exploration, production, refining, retail fuel distribution and power generation. Staatsolie also has a working interest in two gold projects in Suriname. It seeks to develop energy resources to maximise the long-term value for Staatsolie and Suriname, energizing a bright future for Suriname
Annand Jagesar, Managing Director of Staatsolie said: “We have built a solid foundation for Staatsolie to participate in GranMorgu and possible future projects and are embarking on a new phase of transformational growth for the company and the country.”
BLADEX, a multinational bank founded in 1979, provides financial solutions to companies and investors doing business in Latin America. It is headquartered in Panama City and has five offices in Latin America and the United States.
Distributed by APO Group on behalf of Afreximbank.
Nin wadani ah oo dalkiisa iyo dadkiisa u dadaalaya, Mudane Abdullahi Mohamed Duale deserves bilad sharaf..
I agree with you Boqoljireh 100 and 10%. I will add to that though lack of charisma and statesmanship.
I strongly disagree with the cost and time you travel at all times. Iam waiting you for 8 years time for only to improve Somaliland’s foreign policy. Just except meetings only. We have not in good trust to your administration.
I have to say good bye, because you have to leave
I am sorry, Ka la hadhay siyaasadda dibedda ee Waddanku waa isaga,. Hoygiisa labaadi waa Addis Ababa, waxa uu jeclaadayna ha lays weydiiyo?
We shall be having a new active and bright young man as foreign secretary very soon, and you will see the difference in a short time.
This guy is useless, I am even surprised those men from United States and EU took time with him, perhaps for the sack of Somaliland.
The only minister doing his job in Rayale government is the Civil Aviation minister and the minister of Livestock, the rest are peanut heads.
I suppose you want Mudane Abdillahi to talk to Congressman Payne..I know you guys are all KULMIYE, but that is fine. If you are honest with yourselves, you know that this man is a wadani, true blooded wadani, and has opened more doors than any foreign minister, since we reclaimed independence in 1991. He is the anti-Silaanyo, and you know it. A future Somaliland President, whether he stays is in UDUB or leaves to rescue KULMIYE..kkk…
Kariye, you got it all wrong. FYI I am neither Kulmiye nor UCID, but yet again I want either Kulmiye or UCID to succeed. UDUB? Forget it, not even under my radar.
As for Mudane Abdullahi, Wadaninimdiisa waxba lagama sheegin, laakiin xilkiisii kamuu soo bixin. He is actually a sitting duck. His job was to sell and promote Somaliland's cause to the rest of the world. That didn't happen.
Gobaad, rubbish, you are talking total rubbish. Look at the man's track record objectively, and with a clear eye over the past few years since he has been Foreign minister, and there is no denying, that he has help to raise Somaliland image abroad and access to many place. Please, let us be objective, the man deserves respect, beel iyo beel la'aan. Mudane Abdillahi waa wadani, isagoo kale cidna ma siisteen..
Sorry brother, you are alone in your opinion. Like myself, everybody else gave him a failing grade. Convince me Kariye. Markaad saaxiibtinimada iyo qaroobo kiilka iska dhaaftid. Show me what kind of track record you are talking about.
Sorry, Gobaad don't have the time to convince the unconviceable, do your own research
That is enough convincing , thank you.
Nothing can convince me Mr Duale is worthy of this portfolio, I have looked at him from every angel possible, checked all his records and it seems some people consider his holidays abroad and in the region to be "success".
Name one thing that he did? and dont name he visited X and Y because he was there for a holiday, anyone with a ticket can go to those places, can Somaliland passport? It's no, its failed of foreign policy.
Is he taking active role in the conflict in Somalia? No, failed foreign policy.
Is he engaging with the NATO and US forces in the Gulf of Aden, no, its failed foreign policy.
I don't know what you call success that he did.
Cajiib, Mudane Abdillahi Mohamed Duale waa wadani heer sare ah, cidna ma siisteen, weligeenba..You know what a failed policy is "believing in a federal Somalia" at this day and age, and cozying up to Congressman Payne and his ilk. That is a spectacularly failed policy. KULMIYE, keep on keeping on.
am greeting somaliland community am really believe that abdilahi is brave man
who always makes the efforts of somaliland recognition, am sure he will bring
the solution of somaliland future
waxan ku raacsanay gobeed fikirka iyo halka ay ka istaactay dawlada ma dhalayska ah ee uu mr ducaale wasiirka kayahay he is one of those la hadhka ah ee somaliland la degay mr ducaale iyo rayaale waxay aad u xiiseeyaan inay u soo nastaan addis ababa waxayna iloobeen ujeedada xilkooda waxan joogay barigii madx wayne cigal ku geeryooday pretoria south africa mr ducale
markaan ugu galay hotel ay deganayeen he was already drunk i cldnt believe it
waxan sugaynaa cida bedeli doont a
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