TotalEnergies, Staatsolie Maatschappij Suriname NV and APA Corporation, announced the Final Investment Decision (FID) for the Block 58 project offshore Suriname. This decisive step is scheduled for the last quarter of 2024, with production start-up projected for 2028.
The Block 58 project
TotalEnergies is the lead operator of Block 58 with a 50% interest, shared with APA Corporation, which also owns 50%. Staatsolie has the option to join the project with up to a 20% interest after the FID.
On the other hand, advanced engineering studies (FEED) are being carried out for the Sapakara and Krabdagu fields, which have combined recoverable resources in excess of 700 million barrels. This has been achieved through the integration of Water Alternate Gas(WAG) injection technology that optimizes recovery.
Ocean Bottom Node(OBN) seismic technology will be instrumental in maximizing resources and determining development well locations, as well as identifying resource advantages. In the second half of 2024, an initial OBN campaign covering 900 km² will be conducted.
Oil field development
Recently, facts were reached towards the IDF. An agreement was finalized between Staatsolie and TotalEnergies on the field development area, maximizing value for Suriname and the Block 58 partners over the 25-year production period. In addition, the hull of the floating production storage and offloading (FPSO) unit with a capacity of 200,000 barrels of oil per day (bopd) has been secured.
Importantly, the project facilities will be designed to operate with zero routine flaring and all associated gas will be reinjected into the reservoirs. During the development and production and extraction of crude oil.
On the other hand, TotalEnergies will work closely with Staatsolie closely with Staatsolie to increase local content, as already demonstrated during the exploration and appraisal phases, with more than 80 people trained for logistics operations in Paramaribo.
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Source and photo: Staatsolie
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