Amsterdam, February 18th, 2025 – In a groundbreaking move, SBM Offshore and TotalEnergies have announced a joint venture to develop offshore oil production in Suriname. This collaboration marks a significant milestone for the South American nation, poised to become a major player in the global oil and gas industry.
The GranMorgu Project: A Game Changer
The centerpiece of this joint venture is the GranMorgu field development, located in Block 58, approximately 150 kilometers offshore Suriname. Under the partnership, SBM Offshore, in collaboration with Technip Energies, will construct and install a state-of-the-art Floating Production, Storage, and Offloading (FPSO) vessel. This FPSO will be the first large deepwater project in Suriname, with an expected production capacity of up to 220,000 barrels of oil per day and associated gas treatment capacity of up to 500 million cubic feet per day.
Technological Innovation and Environmental Responsibility
One of the standout features of this project is the all-electric drive FPSO, designed to eliminate routine flaring, aligning with TotalEnergies’ objectives and SBM Offshore’s goal to deliver carbon-efficient units. This innovative approach not only enhances production efficiency but also underscores the commitment to environmental sustainability.
Local Impact and Capacity Building
SBM Offshore is dedicated to maximizing local participation and developing local expertise in Suriname. The company has already launched several initiatives, including scholarship programs, training opportunities for engineers and technicians, and the development of local suppliers. This focus on local capacity building is essential for both economic efficiency and social acceptance of the project.
Outlook for the Future of Oil and Gas in Suriname
The future of oil and gas in Suriname looks promising. With significant investments from major international oil companies like TotalEnergies, the country is on the brink of an economic transformation. The GranMorgu project alone is expected to produce up to 220,000 barrels per day from around 30 wells, significantly boosting Suriname’s economy.
However, Suriname’s leaders are mindful of the need for economic diversification. President Chandrikapersad Santokhi has emphasized the importance of using oil and gas revenues as a stepping stone to develop other sectors such as agriculture, tourism, technology, and renewable energy. This balanced approach aims to ensure long-term sustainable growth and reduce over-reliance on oil and gas resources.
In conclusion, the joint venture between SBM Offshore and TotalEnergies represents a significant step forward for Suriname’s oil and gas industry. With a focus on technological innovation, environmental responsibility, and local capacity building, this project is set to transform Suriname’s economic landscape and pave the way for a prosperous future.
