The GranMorgu Development is being seen as a historic milestone in Suriname’s oil and gas sector. “What seemed like a distant dream is becoming a reality,” said Annand Jagesar, Managing Director of state oil company Staatsolie.
According to Staatsolie, the name GranMorgu is inspired by the majestic Goliath Grouper (Granmorgu) that can be found in the coastal waters of Suriname. With its size, the Granmorgu symbolizes the magnitude and significance of the upcoming development in Block 58. The fish can live up to forty years, which also indicates the productivity years of the GranMorgu project (minimum 20-25 years). GranMorgu means more or less ‘a beautiful morning’ in Surinamese, which represents a new dawn and the promise of a new beginning.
Suriname is finally venturing into offshore oil development, thanks to TotalEnergies and APA Corporation. Come 2028, barring delays, Suriname will be churning out oil from the GranMorgu field, holding 750 billion barrels of oil and gas, a game changer for the small South American nation that borders Guyana, itself a new producer.
“This will be the largest investment ever in our country; one in which Suriname will receive the largest share of the ‘take’, Jagesar said. “Staatsolie will supervise this. This new opportunity comes with a shared obligation to ensure that Suriname will benefit optimally from the incomes from offshore oil. These will have to be put in use for the long-term prosperity of all Surinamese.”
How will it achieve this? Jagesar said through good governance, transparency, zero corruption and the establishment and strengthening of institutions “that must guarantee that this income benefits the development of the entire Surinamese society.”
GranMorgu, according to TotalEnergies, will minimize greenhouse gas emissions and achieve a scope 1 and 2 emissions intensity below 16 kg carbon dioxide equivalent per barrel of oil equivalent (CO2e/boe) through an all-electric floating production storage and offloading vessel (FPSO) configuration. This will have zero routine flaring and full reinjection of associated gas, optimized power usage using a Waste Heat Recovery Unit and water-cooling system, and a permanent methane detection and monitoring system supported by a network of sensors. The vessel is being built by Dutch floater specialist, SBM Offshore.
“This important decision will boost our domestic capabilities and investments and have a major impact on local content opportunities,” remarked Chandrikapersad Santokhi, President of the Republic of Suriname. “Suriname is committed to a strong and loyal partnership and expects that the offshore oil and gas development will take off in compliance with environmentally regulations and standard.”
TotalEnergies operates Block 58 with a 50% stake, alongside APA Corporation, which holds the other 50%.
Staatsolie has announced plans to exercise its option to join the development project with up to a 20% interest. The partners agreed that Staatsolie will contribute to the project starting from the Final Investment Decision, with its final interest to be determined by June 2025.
