Wednesday, July 16, 2025

SBM Offshore and TotalEnergies Announced a Joint Venture

by Oilspot Suriname
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In February 2025, SBM Offshore and TotalEnergies announced a joint venture to develop offshore oil production in Suriname. This includes the GranMorgu field development in Block 58, featuring a state-of-the-art Floating Production, Storage, and Offloading (FPSO) vessel.

In a significant development, SBM Offshore and TotalEnergies have formed a joint venture aimed at advancing offshore oil production in Suriname. This partnership represents a pivotal moment for the South American country, which is set to emerge as a key player in the global oil and gas sector. The GranMorgu Project: A Transformative Initiative At the heart of this collaboration is the GranMorgu field development, situated in Block 58, roughly 150 kilometers off the coast of Suriname. Through this alliance, SBM Offshore, in partnership with Technip Energies, will design and deploy a cutting-edge Floating Production, Storage, and Offloading (FPSO) vessel. This FPSO will mark Suriname’s inaugural large-scale deepwater project, with an anticipated production capacity of up to 220,000 barrels of oil per day and a gas treatment capacity of up to 500 million cubic feet per day. Technological Advancement and Environmental Stewardship A notable aspect of this initiative is the all-electric drive FPSO, engineered to eliminate routine flaring, which aligns with TotalEnergies’ sustainability goals and SBM Offshore’s commitment to providing carbon-efficient solutions. This innovative design not only boosts production efficiency but also highlights a dedication to environmental responsibility. Local Engagement and Skill Development SBM Offshore is committed to enhancing local involvement and fostering local expertise in Suriname. The company has initiated various programs, including scholarships, training for engineers and technicians, and the establishment of local suppliers. This emphasis on building local capacity is crucial for ensuring both economic viability and community support for the project. Prospects for the Oil and Gas Sector in Suriname The outlook for the oil and gas industry in Suriname appears bright. With substantial investments from leading international oil companies such as TotalEnergies, the nation is on the verge of an economic transformation. The GranMorgu project alone is projected to yield up to 220,000 barrels per day.


SOURCE: Oil Price

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