In June of 1998, the Managing Director Eddie Jharap was fired for refusing to sell Staatsolie to Korean conglomerate and automobile manufacturer Daewoo.

[5] In the 2000's Staatsolie continued to grow by building a 22 kilometer pipeline from Tout Lui Faut to Paranam.

Statsolie continued to expand their refineries and improve their oil fields and in 2011 they acquired Chevron operations in Suriname.

Staatsolie has seen more competition recently as more companies begin to explore the oil opportunities in the Surinamese region.

[7] In 2023, the French Company TotalEnergies announced Suriname's first ever offshore drilling project which is a $9 billion dollar project imposed by the International Monetary Fund (IMF) to ease the extreme poverty in the country which was endorsed by the current CEO of Staatsolie (Annand Jagesar).

[8] As Suriname receives growing interest from the world for its oil, Staatsolie has been excited to work together with corporations.

[9] Despite growing outsider competition, Staatsolie is dedicated to serving the Surinamese people through sustainable projects and providing significant profits to state revenue.