11:28 AM EDT, 09/30/2024 (MT Newswires) -- (Updates with details throughout.)

TotalEnergies (TTE) is expected to sign a final investment decision Tuesday for a greater than $10 billion offshore oil and gas development in Suriname, Reuters reported Monday, citing four sources with knowledge of the matter.

TotalEnergies Chief Executive Patrick Pouyanne is expected to fly to Paramaribo, Suriname for an official announcement before travelling to New York for the company's investor day Wednesday, the sources said.

The Gran Morgu field, located about 140 kilometers offshore, has estimated recoverable resources of about 700 million barrels of oil equivalent, according to the report.

TotalEnergies didn't immediately reply to a request for comment from MT Newswires.

The company's shares were down 1.5% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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