TotalEnergies Advances Block 58 Project in Suriname
On the occasion of the Suriname Energy Oil and Gas Summit 2024, Javier Rielo, Senior Vice President Exploration & Production Americas at TotalEnergies, and Annan Jagesar, CEO of Staatsolie Maatschappij Suriname NV, the National Oil Company of Suriname, announced important steps towards a final investment decision for the development of offshore Block 58.
The companies said that the decision is expected in the fourth quarter of 2024, with production scheduled to start in 2028.
TotalEnergies is the operator of Block 58 with a 50% stake, along with APA Corporation (50%). Staatsolie has the option to enter the development project with an interest rate of up to 20% at FID, according to a TotalEnergies press release.
Preliminary engineering and design studies are ongoing for the development of the Sapakara South and Krabdagu fields, which have combined recoverable resources estimated at over 700 million barrels.
The hull for the 200,000 b/d FPSO for Sapakara South and Krabdagu has been secured, TotalEnergies said on Wednesday, without providing further details.
The facilities will be designed to eliminate regular flaring, with all associated gas re-injected into the reservoirs, minimizing greenhouse gas emissions.
