Patrick Pouyanné, chairman and CEO of TotalEnergies, along with His Excellency Chandrikapersad Santokhi, president of the Republic of Suriname, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V., announced the final investment decision for the “GranMorgu” development on offshore Block 58 in Paramaribo today. This project is a significant step for Suriname, marking the first offshore oil development in the country.
The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, estimated to hold over 750 million barrels of recoverable reserves. Located 150 km off the Suriname coast, the project includes a 220,000 barrels-per-day Floating Production Storage and Offloading unit, with a total investment of approximately $10.5 billion. The first oil production is anticipated in 2028. The FPSO is designed to accommodate future developments, ensuring an extended production plateau.
TotalEnergies operates Block 58 with a 50 percent interest, alongside APA Corporation. Staatsolie has expressed its intent to acquire up to a 20 percent interest in the project and will finalise its involvement by June 2025.
GranMorgu aims to minimise greenhouse gas emissions through innovative technologies, such as an all-electric FPSO configuration, zero routine flaring, and full reinjection of associated gas into the reservoirs. With a scope 1 and 2 emissions intensity below 16 kg CO2e/boe, the project features waste heat recovery systems and permanent methane detection to optimise efficiency and environmental performance.
In addition to its environmental focus, the project promises significant economic benefits for Suriname. Investments in local content are expected to exceed $1 billion, creating over 6,000 jobs, including 2,000 direct positions. Paramaribo will serve as the hub for administrative and logistical operations, with local companies contributing to various aspects of the project, including logistics, well services, and FPSO operations.
To further support Suriname’s development, TotalEnergies and APA Corporation signed a Memorandum of Understanding with the Surinamese Health Ministry to rehabilitate two mother and child hospitals in Paramaribo, reinforcing their commitment to the local community.
Patrick Pouyanné emphasised the significance of the project: “This landmark project marks the first offshore development in Suriname and builds on our extensive expertise in deep offshore innovation. GranMorgu fits with our strategy to accelerate time-to-market and develop low-cost and low-emission oil projects.”
President Santokhi also welcomed the FID announcement, noting that it represents a historic moment for Suriname, creating vast opportunities for revenue and attracting international investment. Annand Jagesar, CEO of Staatsolie, praised the cooperation with TotalEnergies and highlighted the project’s potential to elevate living standards for Suriname’s citizens.
The GranMorgu project is set to be a transformative venture for both the energy industry and the economy of Suriname, with long-term benefits for the country’s development.
For more information visit www.totalenergies.com
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