**TotalEnergies Makes Historic Investment Decision for GranMorgu Development in Suriname**
In a significant development for the Latin American energy landscape, TotalEnergies has announced the final investment decision (FID) for the $10.5 billion GranMorgu oil project in Suriname. This milestone marks the beginning of a groundbreaking offshore oil and gas project in the country, set to transform its economy and contribute to the region’s booming energy sector.
### Project Details
**Location and Partnerships:**
The GranMorgu development is located in Block 58, approximately 140 kilometers offshore Suriname. TotalEnergies, alongside APA Corporation, will operate the project with a 50% stake each. Staatsolie, Suriname’s state-owned energy company, has the option to participate with up to 20% of the project’s ownership.
**Reserves and Production:**
Estimated recoverable reserves for the field stand at over 750 million barrels of oil equivalent. The project will utilize a floating production, storage, and offloading (FPSO) vessel with the capacity to process 220,000 barrels of oil per day. This FPSO is designed to minimize greenhouse gas emissions and extend its production plateau through future tieback opportunities.
### Key Technologies and Sustainability Initiatives
To achieve its sustainability goals, TotalEnergies is incorporating advanced technologies into the GranMorgu project:
– **All-Electric FPSO Configuration:** The FPSO will operate without routine flaring, ensuring zero greenhouse gas emissions associated with flaring operations. This is complemented by the full reinjection of associated gas into the reservoirs.
– **Optimized Power Usage:** Incorporating a waste heat recovery unit and optimized water cooling systems will enhance the efficiency of the operations and reduce energy consumption.
– **Methane Detection and Monitoring:** A permanent methane detection and monitoring system will be installed, using a network of sensors to detect and manage methane emissions.
These innovative solutions align with TotalEnergies’ commitment to reducing emissions and minimizing environmental impact. The project aims to have a scope 1 and 2 emissions intensity below 16 kg CO2e per barrel of oil equivalent (boe).
### Economic Impact and Job Creation
The GranMorgu project is expected to significantly boost Suriname’s economy with a projected investment of over $10.5 billion. This historic investment is expected to create more than 6,000 direct and indirect jobs in the country, contributing to