TotalEnergies signs FID for Suriname’s GranMorgu development on Block 58
Patrick Pouyanné, Chairman and CEO of TotalEnergies, met with His Excellency Chandrikapersad Santokhi, President of the Republic of Suriname, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V., Suriname’s National Oil Company, to announce the Final Investment Decision (FID) for the GranMorgu development located on offshore Block 58.
The GranMorgu project will develop the 2023 Sapakara and Krabdagu oil discoveries. 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 (boe/d) Floating Production Storage and Offloading (FPSO) unit. 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.
TotalEnergies is the operator of Block 58 with a 50% interest with APA Corporation (50%). Staatsolie 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.
“GranMorgu” means both “new dawn” and “Goliath grouper” in Sranan Tongo, the local language.
