TotalEnergies acquires 25% stake in Block 53 in Suriname and strengthens its offshore presence

TotalEnergies acquires a 25% stake in Block 53 offshore Suriname, joining APA and Petronas after an agreement with Moeve, thereby consolidating its expansion strategy in the region.

Share:

Gain full professional access to energynews.pro from 4.90£/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90£/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 £/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99£/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 £/year from the second year.

TotalEnergies has signed an agreement to acquire the 25% interest held by Moeve, formerly known as Compañía Española de Petróleos Sociedad Anónima (CEPSA), in Block 53 located offshore Suriname. This new partnership positions TotalEnergies alongside APA Corporation, operator with 45%, and Petroliam Nasional Berhad (Petronas), which holds 30% of the licence.

New milestone in Surinamese offshore

Block 53 is situated to the east of Block 58, where TotalEnergies already holds 40% as operator, alongside its partners. The area is home to the Baja-1 discovery, made near the border with Block 58. According to information released by TotalEnergies on June 27, this acquisition follows the final investment decision made in October 2024 for the development of the GranMorgu project in Block 58, a significant step in the country’s petroleum history.

The integration of Block 53 is part of TotalEnergies’ intention to leverage synergies between the two licences to optimise costs and logistics. The development of the GranMorgu project should thus allow the company to benefit from existing infrastructure and accelerate the production of new fields.

Synergies and production optimisation

TotalEnergies’ strategy is to extend the production plateau and maximise the profitability of offshore assets in Suriname. Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies, stated that this operation “brings new resources to the development of the GranMorgu project,” also highlighting the group’s ability to profitably develop additional resources. According to the group, the geographical proximity between Blocks 53 and 58 will allow certain infrastructure to be shared and reduce development timeframes.

Block 53, already recognised for its potential thanks to the Baja-1 discovery, represents a natural extension of TotalEnergies’ asset portfolio in this part of the Guyana-Suriname basin. The company thus states that it is strengthening its presence in the Surinamese offshore, alongside other major industry players already established there.

Regional outlook for operators

TotalEnergies’ entry into Block 53 comes amid the growth of the petroleum industry in the region, marked by a series of discoveries and increased foreign investment. The structuring of partnerships between APA, Petronas and TotalEnergies points to an evolution in licence governance, while offering new levers of growth to each operator.

The official statement does not specify the value of the transaction, but indicates that the company continues to focus on cost-controlled projects in its strategic operational zones. The integration terms for Block 53 are expected to be subject to local regulatory approvals in the coming months before the effective transfer of the stake.

The European Commission seeks to block Russian oil flows through new bans targeting Rosneft, Gazprom Neft, foreign refineries and vessels operating outside the regulatory framework.
Caracas steps up its military posture in response to the United States’ naval deployment in the Caribbean, which the Venezuelan government accuses of having strategic designs on its oil and gas resources.
A UN report reveals that nearly 90% of road projects financed by oil never materialised, fuelling surging poverty amid extreme inflation and poor management.
Sinopec modernises its Tahe complex, increasing refining capacity and adding key units to support petrochemical production in western China.
TotalEnergies has signed four production sharing contracts for offshore blocks covering 12,700 km² off the coast of Liberia, marking a new step in the expansion of its activities in West Africa.
A new analysis estimates that existing oil fields could yield up to 1,000 billion additional barrels without major new discoveries, using proven methods supported by artificial intelligence.
Baker Hughes has signed a multi-year contract with Petrobras to maintain the Blue Marlin and Blue Orca vessels in Brazil’s offshore fields, including the supply of associated chemicals and services.
KazMunayGas has resumed oil shipments to Turkey through the Baku-Tbilisi-Ceyhan pipeline, following a stoppage due to a contamination issue resolved at the Aktau terminal.
After six months of suspended local institutions, Nigeria's federal government restores civilian power in oil-rich Rivers State as political tensions appear to ease.
Backed by flagship projects linked to EACOP and the Tilenga and Kingfisher fields, Uganda aims to lead Africa in new oil storage additions, with a projected impact on its revenues and financial flows by 2030.
A study reveals that independent oil and gas producers supported over 3.1 million jobs and generated $129bn in taxes, representing 87% of the US upstream sector’s economic contributions.
GATE Energy has been appointed to deliver full commissioning services for bp’s Kaskida floating production unit, developed in partnership with Seatrium in the deepwater Gulf of Mexico.
A Syrian vessel carrying 640,000 barrels of crude has docked in Italy, marking the country’s first oil shipment since the civil war began in 2011, amid partial easing of US sanctions.
Canadian crude shipments from the Pacific Coast reached 13.7 million barrels in August, driven by a notable increase in deliveries to China and a drop in flows to the US Gulf Coast.
Faced with rising global electricity demand, energy sector leaders are backing an "all-of-the-above" strategy, with oil and gas still expected to supply 50% of global needs by 2050.
London has expanded its sanctions against Russia by blacklisting 70 new tankers, striking at the core of Moscow's energy exports and budget revenues.
Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.
French steel tube manufacturer Vallourec has secured a strategic agreement with Petrobras, covering complete offshore well solutions from 2026 to 2029.
Increased output from Opec+ and non-member producers is expected to create a global oil surplus as early as 2025, putting pressure on crude prices, according to the International Energy Agency.
The Brazilian company expands its African footprint with a new offshore exploration stake, partnering with Shell and Galp to develop São Tomé and Príncipe’s Block 4.

Log in to read this article

You'll also have access to a selection of our best content.