TotalEnergies Suriname project gets underway with $3 billion in contract awards

TotalEnergies, a French oil company, has awarded contracts for engineering services worth more than $3 billion to its first offshore project in Suriname.

Italian energy contractor Saipem announced on Thursday that it had signed a $1.9billion deal with a Suriname subsidiary of TotalEnergies for the development of the GranMorgu oil field.

In a separate announcement, TechnipEnergies said that it was also awarded an additional contract for more than one billion euros ($1.1billion) to build a FPSO (Floating Production Storage and Offloading) vessel.

TotalEnergies, a U.S. exploration company, and APA, a South American oil and gas firm, made a final decision last month on the development worth $10.5 billion, which is the first in the tiny South American nation.

GranMorgu's estimated recoverable resource is 700 million barrels, and the first oil is expected to be produced in 2028.

TechnipEnergies stated that the FPSO would be fully electrified, and will use waste heat recuperation technology to reduce emissions. All associated gas will be reinjected into the reservoir.

TotalEnergies stated that the project would also include real-time sensors for detecting potential methane leaks.

(source: Reuters)