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Staatsolie Maatschappij Suriname N.V. started oil production from the Paleocene Tambaredjo field (Suriname, S.America), in 1981. The oil produced is a thick 16 API biodegraded oil that has migrated upslope from a Cretaceous source rock, equivalent to the La Luna Fm, Venezuela. The oil is produced from Paleocene sands at a depth of 300 to 600m. More than 500 wells have been drilled. The reserves are estimated at over 500 Million BOOIP and well production varies between 10 and 500 BB/day.