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Suriname seen as promising prospect by TotalEnergies

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Patrick Pouyanne, the CEO of TotalEnergies, has said that he may be announcing positive news about developing deepwater oil projects offshore of South America, in the country of Suriname.

Speaking in New York at the Barclays CEO-Energy Power Conference, Pouyanne said:

“We have in Suriname a field of oil, which is big enough to launch a sizeable deepwater development, but I will reveal all the details to the Suriname president.”

Chan Santokhi, the President of Suriname, has also recently said on local TV that he believes that the oil and gas resources are there, and that Pouyanne’s visit would bring some prominent announcements. Government officials later rowed back on those comments however, pointing out that a final investment decision may still be some way off.

TotalEnergies, which makes the Total lubricant and coolant range, is expected to decide on a final investment decision together with its partner U.S. APA Corp by the end of next year. The block is particularly interesting because it lies next to ExxonMobil’s Stabroek block offshore of Guyana, which has yielded a string of major discoveries for the US-based oil major and its partners.

APA and TotalEnergies announced early last year that they had found gas and oil within the Krabdagu-1 well in Block 58. Previous finds in the block include Sapakara, Kwaskwasi, Maka and Keskesi. More recent well appraisals have determined that the Krabdagu and Sapakara plays hold in excess of 800 million barrels of oil.

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