TotalEnergies announces Final Investment Decision for GranMorgu offshore Suriname; $10.5B investment, first oil in 2028
05 October 2024
TotalEnergies made the Final Investment Decision (FID) for the GranMorgu development located on offshore Block 58 Suriname in northern South America. “GranMorgu” means both “new dawn” and “Goliath grouper” in Sranan Tongo, the local language.
The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, on which a successful exploration and appraisal campaign was completed in 2023. The fields are located 150 km off the coast of Suriname and hold recoverable reserves estimated at more than 750 million barrels.
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. Total investment is estimated at around $10.5 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.
TotalEnergies is the operator of Block 58 with a 50% interest, alongside APA Corporation (50%). Staatsolie has announced its intent to exercise its option to enter the development project with up to 20% interest. Partners agreed that Staatsolie will contribute to the project from FID and will finalize its interest before June 2025.
GranMorgu leverages technology to minimize greenhouse gas emissions, with a scope 1 and 2 emissions intensity below 16 kg CO2e/boe due in particular to:
an all-electric FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs;
an optimized power usage with a Waste Heat Recovery Unit and optimized water cooling for improved efficiency; and
the installation of a permanent methane detection and monitoring system relying on a network of sensors.
Significant investments will be made in local content and job creation and will contribute to the development of the Surinamese economy. Paramaribo will serve as the primary hub for administrative, support and logistic activities. Local companies will be involved in logistics, well services, as well as the installation and operations of the subsea systems and the FPSO. Overall local content is estimated to be more than US$1 billion and more than 6000 jobs (2000 direct and 4000 indirect and induced) are expected to be created in Suriname.
Alongside the FID announcement, TotalEnergies and its partner APA signed a Memorandum of Understanding with the Health Ministry to support the rehabilitation of two mother and child hospitals in Paramaribo.
I am not sure what this has to do with sustainable mobility
Posted by: SJC | 05 October 2024 at 02:45 AM