TotalEnergies, APA Corporation, Staatsolie advance Block 58 project offshore Suriname

June 05, 2024

(WO) – At the 2024 Suriname Energy Oil and Gas Summit, Javier Rielo, Senior Vice President Americas, Exploration & Production for TotalEnergies, and Annand Jagesar, CEO of Staatsolie Maatschappij Suriname N.V, the Suriname National Oil Company, announced several significant steps towards the Final Investment Decision (FID) of the development of Block 58 offshore Suriname. This decision is expected in the fourth quarter of 2024, and production is expected to begin in 2028.

TotalEnergies is the operator of Block 58 with a 50% interest, alongside APA Corporation (50%). Staatsolie has the option to enter the development project with up to 20% interest upon FID.

Engineering studies (FEED) are progressing for the development of the Sapakara and Krabdagu fields, with combined recoverable resources estimated above 700 MMbbl, thanks to the integration of Water Alternating Gas (WAG) injection technology to maximize recovery.

Ocean Bottom Node (OBN) seismic technology will also play a key role in maximizing resources and the placement of the development wells, as well as identifying resource upsides. A first OBN campaign covering 900 km2 will be carried out in second half of 2024.

Some key milestones have been recently reached on the path towards FID. An agreement was concluded between Staatsolie and TotalEnergies on the field development area, maximizing the value for Suriname and the Block 58 co-venturers over the 25 years Production Period. In addition, the hull for the 200,000 bopd Floating Production Storage and Offloading (FPSO) unit has been secured.

The project facilities will be designed for zero routine flaring, with all associated gas reinjected into the reservoirs. During the development and production phases, TotalEnergies will work closely with Staatsolie to enhance local content, as already demonstrated during the exploration and appraisal phases, with over 80 people trained for logistics operations in Paramaribo.

“We are glad to progress together with Staatsolie and APA towards the FID of Block 58, which will be the next milestone in the partnership between Suriname and TotalEnergies. Our Company is deploying advanced technologies to minimize the environmental impact and maximize resource recovery, while focusing on ensuring economic benefits for the country,” said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies.

“Staatsolie is happy to progress towards the development of this project with a world-renowned partner in such a way that Suriname optimally benefits not only from large financial streams but as well from a design and execution that will safeguard safe and clean operations,” said Annand Jagesar, CEO of Staatsolie.

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