Overview
- TotalEnergies and APA Corporation approved a final investment decision for the deepwater GranMorgu project on Saturday, committing the partners to develop Block 58.
- The project centers on the Sapakara and Krabdagu discoveries and plans a 220,000 barrels-per-day floating production, storage and offloading vessel that targets about 760 million recoverable barrels and first oil in 2028.
- Staatsolie acquired a participating stake under the production-sharing contract and financed that share with a $1.6 billion bank loan and a March 2025 bond issue, which will increase direct fiscal receipts for the Surinamese government.
- Petronas is separately advancing Block 52 after a November 2025 Declaration of Commerciality for the Sloanea field and eight discoveries in the so-called Golden Lane, with a Block 52 final investment decision planned before the end of 2026.
- Higher oil prices from recent Middle East tensions strengthen the projects’ economics but risks remain from schedule execution, reservoir performance, volatile crude markets, and how new revenues are managed and taxed.