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TotalEnergies announces progress on Suriname Block 58 project

Sea Oil Rig Drilling Platform

France-based TotalEnergies has made significant progress towards a final investment decision (FID) on Block 58 in Suriname, according to the company’s senior vice president for exploration and production in the Americas.

Javier Rielo made the announcement at the 2024 Suriname Energy Oil and Gas Summit alongside Annand Jagesar, the CEO of Suriname’s state-owned oil company Staatsolie.

TotalEnergies and APA Corporation each hold a 50% interest in Block 58, but once an FID on development is made, Staatsolie has the right to join the project with an interest of up to 20%.

Rielo said that TotalEnergies was happy:

“…to progress with Staatsolie and APA towards the FID of Block 58, which will be the next milestone in the partnership between Suriname and TotalEnergies. Our company is deploying advanced technologies to minimise the environmental impact and maximise resource recovery, while focusing on ensuring economic benefits for the country.”

TotalEnergies, the maker of the Total metalworking range, is currently performing engineering studies to determine how best to develop the Sapakara and Krabdagu fields.

The hull for a floating production, storage and offloading (FPSO) vessel with the capacity to produce 200,000 barrels per day (bpd) of crude oil has already been secured. TotalEnergies and Staatsolie have reached an agreement on the area for field development.

Should an FID be made towards the end of year, TotalEnergies will endeavour to minimise the emission of greenhouse gases through advanced technologies. For example, gas from production will be reinjected into the well, enabling the FPSO to avoid routine flaring.

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