PARAMARIBO, SURINAME – Stakeholders from across Suriname’s oil and gas sector gathered on September 24 at the Assuria Event Center for a masterclass, ‘Navigating the Local Content Regulations for Oil and Gas in Suriname’.
The event, organized by Shyamnarain Associates in collaboration with the Assuria Community Fund, aimed to provide clarity on the country’s local content regulations and explain how they can strengthen the role of Surinamese companies in the distribution chain. Contractors, subcontractors, local suppliers, policymakers and aspiring professionals attended.
Keynote speaker Roy Shyamnarain, a tax and legal advisor specialized in oil and gas regulation, outlined the Surinamese context and challenges of applying local content provisions in practice. The presentations were followed by a panel discussion where experts shared perspectives on obligations, effectiveness and areas for improvement.
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Minister of Oil, Gas and the Environment Patrick Brunings highlighted the stakes for Suriname.
“Local content is about Surinamese people, Surinamese companies and services actively participating in the oil and gas sector. If we don’t organize this properly and don’t strengthen regulations, we run the risk of becoming dependent on foreign parties,” he said.
Brunings warned that weak regulation could create economic imbalances and inflation, emphasizing the need to strengthen local firms and employees.
“Nothing is more rewarding than when Suriname can offer a skilled workforce to international companies,” the minister added.
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The masterclass positioned local content at the center of Suriname’s emerging oil and gas industry, highlighting both opportunities for domestic businesses and the importance of a regulatory framework that balances foreign participation with national development.
