TotalEnergies approves development of GranMorgu project in Suriname

TotalEnergies announced on October 1, 2024, the final investment decision for the GranMorgu project on offshore Block 58 in Suriname. This project, developed alongside APA Corporation and Staatsolie, aims to exploit the Sapakara and Krabdagu oil fields, with estimated reserves of more than 750 million barrels.

The project includes a floating production, storage and offloading (FPSO) unit capable of handling 220,000 barrels per day. The total investment will be around $10.5 billion, with production expected to begin in 2028. The initiative will integrate technologies aimed at minimizing GHG emissions.

In addition to its environmental dimension, the GranMorgu project promises economic benefits for Suriname, with local content estimated at more than $1 billion and the creation of more than 6,000 jobs. The project also includes contributions to local infrastructure such as the rehabilitation of maternity-pediatric centers in Paramaribo.