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TotalEnergies' Suriname project kicks off with $3 bln in contract awards
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TotalEnergies' Suriname project kicks off with $3 bln in contract awards
Nov 15, 2024 12:30 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 and Dutch company SBM

Offshore were also awarded a contract worth more than 1 billion

euros ($1.1 billion) to build a floating production storage and

offloading (FPSO) vessel on the project, they 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.

The FPSO will be fully electrified and use waste heat

recovery technology to reduce emissions, with all associated gas

to be re-injected in the reservoir, TechnipEnergies said.

The project will also be outfitted with real-time sensors to

detect potential methane leaks, TotalEnergies said.

($1 = 0.9494 euros)

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