TotalEnergies announces new exploration in Suriname's Block 58

TotalEnergies CEO Patrick Pouyanné has announced plans for a new offshore exploration campaign in Block 58, located off the coast of Suriname, scheduled for 2027 and 2028. This new initiative is separate from the ongoing development of the GranMorgu field.

The GranMorgu project, which involves participation from Suriname's Staatsolie, is currently in the implementation phase. Following a final investment decision in October 2024, the project represents an investment of approximately USD 10.5 billion. Offshore drilling and installation activities for GranMorgu are expected to begin in early 2027, with first oil production targeted for 2028.

The GranMorgu field is based on the Sapakara and Krabdagu discoveries, located about 150 kilometers from the Surinamese coast. These fields are estimated to contain more than 750 million barrels of recoverable oil. Production will utilize a floating production, storage, and offloading (FPSO) vessel with a capacity of up to 220,000 barrels of oil per day.