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Esgian: TotalEnergies takes FID in Suriname, restarts exploration offshore Namibia
French oil and gas major TotalEnergies has sanctioned a new development offshore Suriname and plans to resume exploration drilling in Namibia’s Orange Basin, according to Esgian analysts
TotalEnergies and its partner APA Corporation have announced the final investment decision (FID) for the GranMorgu development on Block 58, offshore Suriname.
The project involves the development of the Krabdagu and Sapakara discoveries and includes a 220,000-barrel-per-day FPSO unit, designed to accommodate potential future tie-back developments. The GranMorgu FPSO will also incorporate technology aimed at reducing greenhouse gas emissions, with targeted scope 1 and 2 emissions intensity below 16 kg CO2e/boe.
Around 32 wells, including production wells and water and gas injection wells, are expected to be drilled, utilising a semisubmersible and a drillship starting in the latter half of 2026. First oil is expected by 2028, with an estimated total investment of around US$10.5Bn. Additionally, the two companies have retained the option to continue exploring Block 58.
TotalEnergies holds a 50% stake as the operator, together with APA Corporation which holds the remaining 50%. Staatsolie, Suriname’s national oil company, has expressed its intent to exercise an option to participate in the project with up to a 20% interest. The partners have agreed that Staatsolie’s contribution will begin at FID, with its final interest set to be confirmed by June 2025.
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And TotalEnergies will resume exploration drilling in the Orange Basin offshore Namibia in the fourth quarter of 2024 with the Tamboti prospect, located in Block 2913B north of the company’s Venus discovery.
The Northern Ocean-owned, 10,000-ft semisubmersible Deepsea Mira recently concluded drilling a well on the Marine XX licence offshore the Republic of Congo for TotalEnergies and is now en route to Namibian waters. Deepsea Mira is managed by Odfjell Drilling. TotalEnergies used Deepsea Mira for its Venus appraisal drilling from around late June 2023 to early May 2024 and in August 2024 extended its contract for the unit.
The company also has the Vantage Drilling-managed 12,000-ft drillship Tungsten Explorer to use for work in West Africa following its agreement in February 2024 to acquire 75% ownership of the rig. TotalEnergies has confirmed additional prospects south of Venus via a 2024 3D seismic campaign and is considering potential Namibian wells there in 2025, as well as potential wells on its South Africa licences Block 3B/4B and DWOB in 2025. TotalEnergies is also progressing engineering work for its Venus development offshore Namibia, a planned 160,000 b/d development.
Editor’s note: The content of this article first appeared on Esgian’s website in Esgian Rig Analytics Market Roundup (Week 40), with contributions by Nermina Kulovic Cilic, Matthew Donovan, Bato Tomic, Sofia Forestieri, and Fernando Ortiz.
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