financetom
Business
financetom
/
Business
/
TotalEnergies' Suriname project kicks off with $3 billion in contract awards
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
TotalEnergies' Suriname project kicks off with $3 billion in contract awards
Nov 15, 2024 12:37 PM

PARIS/MILAN, Nov 14 (Reuters) - French oil major

TotalEnergies has awarded engineering contracts worth

at least $3 billion as part of its fast-track development of

Suriname's first offshore project.

Italian energy contractor Saipem said on Thursday

it had signed a $1.9 billion deal with a subsidiary of

TotalEnergies in Suriname for the subsea development of the

GranMorgu field.

French firm TechnipEnergies was also awarded a

contract worth more than 1 billion euros ($1.1 billion) to build

a floating production storage and offloading vessel on the

project, it said in a separate statement.

Last month, TotalEnergies and U.S. exploration firm APA

took a final investment decision on the $10.5 billion

development, the tiny South American country's first.

GranMorgu is estimated to hold more than 700 million barrels

of recoverable resources, with first oil expected in 2028.

($1 = 0.9494 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved