Executive says TotalEnergies will begin drilling in Suriname in the next year

The vice president of exploration for the Americas at TotalEnergies, a French energy producer, said that the company expects to start a new drilling campaign in Suriname next year in order to expand its exploration targets. TotalEnergies’ largest project in?Suriname is the $10.5 billion Gran Morgu off-shore project. It is expected to start oil production in 2028. This is a major milestone for the small South American country, as all crude is produced onshore. Daniel Larranaga, at an energy event in Paramaribo's capital, said that the company would "start a multiwell campaign" next year if rigs are available. "We are really excited to be able unlock more potential." The campaign includes drilling four new 'exploration wells' at Block 58. This is a large offshore block of 1.4 million acres (5,665 square kilometers), and it will be the same area that will develop through the Gran Morgu Project. Annand Jagesar of Suriname’s state-run oil company Staatsolie told delegates on the sidelines of the event that there was still plenty of space to search for oil in Block 58. If the new reserves are large enough, then partners in the area could decide to develop a secondary field. Jagesar stated that if the reserve is not large enough, then it could be tied back to the Gran Morgu Project. Jagesar said that Staatsolie was willing to take part in any oil and gas projects which could?potentially bring a good return to Suriname. Jagesar explained that Staatsolie would need to structure its finances so it could participate in all projects. TotalEnergies, which also aims to expand in Namibia, and its partners may make a final investment decision for the flagship Venus find at Namibia's Orange basin "in the next few weeks", Larranaga stated. He added that the firm is also pursuing exploration in Nigeria. (Reporting and writing by Ank Kuppers, Marianna Parra; editing by Mark Porter).

(source: Reuters)