TotalEnergies’ offshore development in Suriname, GranMorgu, is 40% complete and remains on schedule to begin production in the first half of 2028, according to Chairman and Chief Executive Officer Patrick Pouyanné.
Pouyanné provided the update during TotalEnergies’ second-quarter and first-half 2026 results conference call on July 23. He said construction is advancing as planned, including work on the floating production, storage and offloading (FPSO) vessel.
“On Suriname, things are moving very well,” Pouyanné said. “I would say we confirm that the production will start up by first half 28.”
The company had previously considered production beginning in either the first or second quarter of 2028. Pouyanné said the current schedule places start-up within the first six months of the year.
“And the news of the construction, it has already progressed by 40%,” he said. “We are at 40% advancement.”
GranMorgu partners to test kite-powered system for FPSO tow to Suriname | OilNOW
Work on the project’s FPSO vessel is also progressing at the construction yard. He described the Suriname development as the type of deepwater project TotalEnergies has experience delivering. The company is advancing the project as part of its wider strategy to diversify its oil and gas portfolio across several regions.
“And if we discover oil and gas in Suriname and in Namibia, we are happy,” Pouyanné said.
Pouyanné also linked the Suriname development to TotalEnergies’ future cash generation while discussing the company’s US$1 billion annual allocation for exploration and appraisal.
“…we need to keep in mind that, in terms of cash generation, added value, exploration for me is a nice engine,” he continued.
GranMorgu is Suriname’s first offshore oil development. The US$10.5 billion project will develop the Sapakara South and Krabdagu fields in Block 58.
TotalEnergies and APA Corporation announced the final investment decision on October 1, 2024. Staatsolie later joined the development with a 20% interest, leaving TotalEnergies and APA with 40% each. TotalEnergies remains the operator.
The fields are located approximately 150 kilometers off Suriname’s coast. Development will center on the GranMorgu FPSO with the capacity to produce up to 220,000 barrels of oil per day.
