The $12.2 billion GranMorgu oil project, in collaboration with TotalEnergies and Staatsolie in Block 58 Suriname, is progressing. With the accumulation of major production components at the Kuldipsingh port facilities, French and Surinamese officials have discussed the advancements of this project, which is scheduled to commence oil production in 2028.
Key Meetings and Progress Assessment
Patrick Pouyanné, Chairman and CEO of TotalEnergies, along with Nicolas Terraz, President of Exploration and Production, and Javier Reillo, Senior Vice President of Exploration and Production for the Americas, visited Suriname on September 19, 2026. These meetings were held with Jennifer Geerlings-Simons, President of Suriname, and Anavand Jagessar, CEO of Staatsolie. During this meeting, team members reviewed the logistical components and production materials stored at the port.
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Staatsolie has emphasized that this equipment will ultimately be installed on the seabed for oil production. Additionally, the progress of the GranMorgu project as Suriname's first offshore development is continuously being realized, with first oil production planned for 2028.
Emphasis on Economic and Local Development
Staatsolie has also announced that a new exploratory campaign in Block 58 is planned for 2027 to assess the potential of the area around GranMorgu. These new explorations could contribute to the expansion of the project and generate value for Suriname in the coming years.
This project not only aids economic growth and employment in Suriname but also provides new opportunities for local companies. Over 100 Surinamese companies are currently supplying goods and services for this project, and the number of individuals participating in these activities is steadily increasing.
Progress related to the initial engineering design and the construction of Floating Production, Storage and Offloading (FPSO) vessels is well underway. TotalEnergies has selected SBM Offshore and Technip Energies for the FPSO GranMorgu work, and ADC Energy from Scotland has been chosen for the rig selection process.
The permit for the development of GranMorgu, located 150 kilometers off the coast of Suriname, is seen as a key opportunity to exploit recoverable reserves in depths ranging from 100 to 1,000 meters. It is estimated that these fields contain recoverable reserves of over 750 million barrels of oil.
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