By Jason Pinas
Sergio Akiemboto, Chief of Staff in the Suriname President’s Office, says Suriname’s local content approach aims to strike a balance between attracting foreign industrial giants and protecting local entrepreneurs.
Akiemboto, who is also a member of the supervisory board at state-owned company Staatsolie NV, says, “Our local content law should not be a deterrent, but neither should it be abused to the advantage of foreigners. It must give us, as a country, the leeway to earn revenue and address a number of basic issues”.
Suriname’s offshore oil and gas sector promises to change the socioeconomic landscape forever. The country, with a population of approximately 600,000, is gearing up for the historic First Oil from offshore Block 58, scheduled in 2028. Local content is a central issue as the country seeks to maximize benefits from expected oil revenues. Click here to read more.
