TotalEnergies is considering a move toward more integrated well contracts for its offshore development in Suriname, Chief Executive Officer Patrick Pouyanné said during the company’s fourth-quarter 2025 earnings call on February 12.
Pouyanné told analysts the company is refining how it awards upstream contracts as consolidation reshapes the services and drilling market. “I don’t like consolidation,” he said. “There are some consolidation we don’t support, because at the end, we see the impact.”
He said market concentration can create challenges.
“If you have a market which is already limited to three players or four, and you go to two, this becomes a problem,” Pouyanné explained.
TotalEnergies EP Suriname to host oil and gas awareness session for local businesses | OilNOW
Pouyanné said oil prices are influencing service costs. He added, “Some service companies have tried to combine their offers by linking wells and subsea. Maybe it’s good for them, but as a customer, we didn’t see a lot of value of this type of approach of integration.”
Instead, TotalEnergies is developing a different contracting model.
“We are developing today an approach where we give more integrated contracts rather than…taking the different bits and pieces to give it to one company,” Pouyanné said.
He confirmed that the strategy could apply to Suriname. “We are looking to do that as well for the wells in Suriname,” he said.
GranMorgu project exceeds 750 million barrels, TotalEnergies executive says | OilNOW
TotalEnergies is leading the development of Suriname’s first offshore project, GranMorgu. The field will feature subsea wells tied back to an all-electric drive floating production, storage and offloading vessel being delivered by SBM Offshore in partnership with Technip Energies.
The vessel will have a production capacity of 220,000 barrels per day. First oil is expected in 2028. Operator TotalEnergies holds a 50% interest in Block 58 offshore Suriname. APA Corporation holds the remaining 50%.
