TotalEnergies, the French oil giant, has awarded two exceptional contracts to TechnipFMC and Saipem, reinforcing the launch of its GranMorgu project in Suriname. This initiative marks a strategic milestone for offshore oil exploration in the country.
In October, TotalEnergies announced its commitment to this project with a total investment of $10.5 billion. Production, set to begin in 2028, is expected to reach a capacity of 220,000 barrels per day. This development involves the Sapakara and Krabdagu fields, located 150 kilometers off the coast, where reserves are estimated to exceed 750 million barrels. The project represents the first offshore development of this scale in Suriname.
A strategic contract for Saipem
Italian group Saipem has secured a $1.9 billion contract for the subsea development of Block 58, a key component of the GranMorgu project. Saipem will oversee the installation of the infrastructure required to exploit the underwater oil reservoirs.
According to the company’s statement, this contract highlights its expertise in subsea engineering and pipeline installation. This strategic partnership also underscores the increasing importance of advanced technologies in offshore operations.
TechnipFMC strengthens its leadership
TechnipFMC, meanwhile, confirmed the acquisition of a major contract. Although the exact amount was not disclosed, the company classifies any contract exceeding $1 billion as “major.” The agreement includes engineering, procurement, construction, and installation (EPCI) of subsea infrastructure, combining TechnipFMC’s innovative technologies with Saipem’s pipeline installation capabilities.
This collaboration between TechnipFMC and Saipem reflects a technological partnership aimed at maximizing efficiency and sustainability for this project.
A flagship project for Suriname
The GranMorgu project, backed by TotalEnergies, represents a significant opportunity for Suriname, positioning the country as an emerging player in the offshore oil industry. This development also highlights the untapped potential of the region’s oil reserves.
Patrick Pouyanné, CEO of TotalEnergies, stated last October that this project was “a major milestone for oil exploration in Suriname.” TotalEnergies holds multiple exploration licenses in this area, paving the way for other similar initiatives.
Work related to these contracts is expected to begin soon, integrating significant technological advancements to ensure the project’s success in a complex maritime environment.
