TotalEnergies Reserves Hull for Suriname FPSO

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--TotalEnergies SE (NYSE:TTE) (Courbevoie, France) has announced that it had secured a hull for its floating, production, storage and offshore (FPSO) vessel at Block 58 offshore Suriname. The vessel is expected to have a production capacity of 200,000 barrels of oil per day (BBL/d) and it could kickstart Suriname's offshore energy future.

TotalEnergies said June 5 it is still taking steps toward a final investment decision (FID) for the development of Block 58. The FID is expected to be announced by the last quarter of this year, with a projected production start in 2028.

The French company holds 50% interest in Block 58, while the remaining half is owned by APA Corporation (NASDAQ:APA) (Houston, Texas).

"We are glad to progress together with Staatsolie and APA towards the FID of Block 58, which will be the next milestone in the partnership between Suriname and TotalEnergies, said Javier Rielo, senior vice president Americas, Exploration & Production at TotalEnergies. "Our company is deploying advanced technologies to minimize the environmental impact and maximize resource recovery, while focusing on ensuring economic benefits for the country."

TotalEnergies is conducting detailed engineering studies at the Sapakara and Krabdagu fields, which have an estimated 700 million barrels of recoverable reserves. The investments at Block 58 could total US$9 billion, according to the French company.

The discoveries and announcements made by TotalEnergies and APA have pushed other energy companies, such as QatarEnergy (Doha, Qatar), Exxon Mobil Corporation (NYSE:XOM) (Spring, Texas) and Petronas (Kuala Lumpur, Malaysia), to search for reserves offshore Suriname in the hope of finding resources similar to those in Guyana.

Last month, ExxonMobil and Petronas announced an oil discovery in Block 52, at the Fusaea-1 well, the third oil well in the block where they have encountered hydrocarbon resources. For more information, see May 22, 2024, article - Petronas, ExxonMobil Make Third Oil Discovery in Suriname's Block 52.

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