TotalEnergies has announced final investment decision (FID) for the GranMorgu development on Block 58, a large offshore deepwater oil project in Suriname, South America.
The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, on which a exploration and appraisal campaign was completed in 2023. The fields are located 150 km off the coast of Suriname, South America, and hold recoverable reserves estimated at over 750 million barrels. TotalEnergies is the operator of Block 58 with a 50% interest, alongside APA Corporation (50%).
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. The total investment is estimated at around $10.5 billion (€9.5 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.
Patrick Pouyanné, chairman and CEO of TotalEnergies says: ‘I am very pleased to launch the GranMorgu project alongside our partners Staatsolie and APA and I thank the State of Suriname for its support. Building on TotalEnergies’ spirit, this landmark project marks the first offshore development in the country and capitalises on our extensive expertise in deep offshore innovation.’
