France’s TotalEnergies reserved a Fast4Ward hull from SBM Offshore for its Block 58 project offshore Suriname, which partners Houston-based APA Corp.
TotalEnergies operates the block and expects to make a final investment decision in fourth quarter 2024, while initial production is slated 2028, SBM said Jun. 6 in a press release.
The project is the initial development within Block 58 and will tap into two main oil discoveries at Sapakara South and Krabdagu fields. TotalEnergies holds a 50% interest in the block and APA holds the remaining 50%.
Appraisal work at both fields has confirmed combined recoverable resources of around 700 MMbbl, APA said in late 2023. Both fields, located in water depths between 100 m and 1,000 m, will be produced through a system of subsea wells connected to an FPSO located 150 km off Suriname’s coast.
The Suriname oil and gas sector could see close to $23 billion in combined exploration expenditure and capex in its deepwater region by 2031, according to Rystad Energy estimates. Suriname’s state-owned Staatsolie currently produces small oil volumes, which are primarily onshore.
TotalEnergies and APA are in the process of a FEED study for an FPSO of 200,000 bbl/d, APA Corp. CEO John Christmann said in May at Hart Energy’s SUPER DUG Conference & Expo in Fort Worth, Texas.
In comparison, TotalEnergies CEO Patrick Pouyanné said in April that the production capacity for the FPSO could be between 150,000 bbl/d and 180,000 bbl/d, during the company’s first quarter 2024 webcast with analyst.
Guyana and Suriname share the prolific Guyana-Suriname maritime. On Guyana’s side of the border, a consortium led by Exxon Mobil Corp. has found over 11 Bboe of recoverable resources in the Stabroek Block. Production there is expected to reach 1.3 MMbbl/d by 2027.
Stabroek is adjacent to Suriname’s Block 58.