TotalEnergies has made the final investment decision (FID) for the GranMorgu development in Block 58 offshore Suriname, which includes Sapakara and Krabdagu oil discoveries.
The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, on which a successful exploration and appraisal campaign was completed in 2023.
The fields are located 150 km off the coast of Suriname and hold recoverable reserves estimated at over 750 million barrels.
The project includes a 220,000 barrels of oil per day Floating Production Storage and Offloading (FPSO) unit, that replicates a proven and efficient design.
Total investment is estimated at around $10.5 billion and first oil is expected in 2028. The GranMorgu FPSO is designed to accommodate future tie-back opportunities that would extend its production plateau.
The FPSO will also leverage technology to minimize greenhouse gas emissions, with a scope 1 and 2 emissions intensity below 16 kg CO2e/boe thanks in particular to an all-electric FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs.
In addition, it will have an optimized power usage with a Waste Heat Recovery Unit and optimized water cooling for improved efficiency, as well as permanent methane detection and monitoring system relying on a network of sensors.
TotalEnergies is the operator of Block 58 with a 50% interest, alongside APA Corporation (50%).
Staatsolie, the state-owned oil company of Suriname, has announced its intent to exercise its option to enter the development project with up to 20% interest.
Partners agreed that Staatsolie will contribute to the project from FID and will finalize its interest before June 2025.
“The FID is a historic milestone in Suriname's oil and gas industry. What seemed like a distant dream is becoming a reality. This will be the largest investment ever in our country. Deliberations with TotalEnergies were always constructive and we thank them for the cooperation to arrive at this moment.
“This project will yield significant income for Suriname and needs to lead to better living standards for every citizen of Suriname. We are convinced, based on the measures taken and the track record of TotalEnergies, that the GranMorgu project will have a worldclass operational and environmental performance”, said Annand Jagesar, CEO of Staatsolie.