(CercleFinance.com) – TotalEnergies announces this evening the launch of development studies for a large oil project on Block 58, off the coast of Suriname.
TotalEnergies is the operator of Block 58, with a 50% interest, alongside APA Corporation (50%).
Appraisal of the two main oil discoveries, Sapakara South and Krabdagu, was successfully completed last August with the drilling and production testing of three wells and confirmed cumulative resources of nearly 700 million barrels for the two fields.
These reserves will be produced by a system of underwater wells connected to an FPSO (floating production, storage and loading unit) located 150 km from the coast of Suriname, with a capacity of 200,000 barrels per day. This project represents an investment of approximately $9 billion.
Detailed engineering studies (FEED) will begin by the end of 2023 and the final investment decision is expected by the end of 2024 with a production target in 2028.
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