TotalEnergies to sign $10B deal for Suriname’s first offshore project – Reuters
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TotalEnergies (NYSE:TTE) is set to sign a final investment decision for a $10B-plus offshore oil and gas development in Suriname, the country’s first, Reuters reported Monday.
TotalEnergies (TTE) CEO Patrick Pouyanne will fly to Suriname for the FID before traveling to New York for the company’s investor day on Wednesday, according to the report.
The Gran Morgu field has estimated recoverable resources totaling 700M boe adjacent to Exxon Mobil’s (XOM) 11B-barrel discovery in neighboring Guyana.
Annand Jagesar, CEO of Suriname state-owned energy company Staatsolie, told Reuters last week it was “highly likely” that it would raise the funds needed to exercise its option to buy a 20% stake in the project, which is currently split 50-50 between operator TotalEnergies (TTE) and APA Corp. (APA)