France’s energy giant TotalEnergies has taken a step to enlarge its oil and gas portfolio of assets off the coast of Suriname with the acquisition of a minority stake in another block, which is close to the one where the French player is developing its oil project.
Thanks to an agreement to acquire a 25% interest held by Moeve, formerly known as CEPSA, in Block 53 offshore Suriname, TotalEnergies is joining APA (45%, operator) and Petronas (30%) as a partner in this license.
Situated directly east of Block 58 , where the French firm (40%, operator) and its partners disclosed a final investment decision (FID) for the GranMorgu development in October 2024, Block 53 contains the Baja-1 discovery , drilled near the border of Block 58.
Javier Rielo , Senior Vice President Americas for Exploration & Production at TotalEnergies, commented: “This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project.
“It also proves how TotalEnergies will leverage GranMorgu infrastructure to develop profitably additional resources and extend its production plateau, strengthening the position of the company in the offshore of Suriname.”
SBM Offshore recently cut the first steel for a floating production, storage, and offloading (FPSO) that will be deployed at GranMorgu, marking the official launch of the vessel’s topsides module fabrication. This project is expected to have a scope 1 and 2 emissions intensity of less than 16 kg CO2e/boe.
While the Dutch giant and Technip Energies were hired to handle the work related to the FPSO for the 12.2-billion offshore field around 150 kilometers off Suriname’s coast, multiple players have been tasked with bringing this oil development to life, including ADC Energy, TechnipFMC , and Saipem .
Operated by TotalEnergies with APA and Suriname’s national oil company (NOC), Staatsolie Maatschappij Suriname (Staatsolie) , as its partners, the project intends to develop resources within the Sapakara and Krabdagu fields.