TotalEnergies Expands Oil and Gas Portfolio in Suriname

France’s energy giant TotalEnergies continues to strengthen its presence in Suriname with the recent acquisition of a minority stake in Block 53 offshore. This strategic move aims to enhance the company’s oil and gas assets in the region, particularly in close proximity to its ongoing oil project in Block 58.

TotalEnergies has secured a 25% interest in Block 53 by acquiring the stake previously held by Moeve (formerly known as CEPSA). The company now joins APA (45%, operator) and Petronas (30%) as partners in this license. Block 53, situated east of Block 58, is home to the Baja-1 discovery, located near the border of TotalEnergies’ GranMorgu development.

Javier Rielo, Senior Vice President Americas for Exploration & Production at TotalEnergies, expressed optimism about the acquisition, stating, “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 company’s position in the offshore of Suriname.”

SBM Offshore has initiated the construction of a floating production, storage, and offloading (FPSO) vessel for the GranMorgu project. The FPSO, with a topsides module fabrication underway, is expected to have a low emissions intensity, aligning with TotalEnergies’ commitment to sustainability.

With key players like Dutch giant SBM Offshore and Technip Energies onboard for the FPSO project, TotalEnergies, in collaboration with APA and Suriname’s national oil company Staatsolie Maatschappij Suriname (Staatsolie), is set to develop resources within the Sapakara and Krabdagu fields. The project aims to bring the offshore oil development to fruition with the support of various industry experts.