Oil and Gas World

TotalEnergies has awarderd SBM Offshore the GranMorgu FPSO project, offshore Suriname

15 November 2024

SBM Offshore announces that it has been awarded contracts for the GranMorgu field development project located in Block 58 in Suriname by the Operator, TotalEnergies EP Suriname B.V., an affiliate of TotalEnergies. Under these contracts, SBM Offshore will, in partnership with Technip Energies, construct and install a Floating Production, Storage and Offloading vessel (FPSO).



In a separate press release, Technip Energies announced that the company was awarded the Topsides FEED for the FPSO.

The company further added on that the project will be designed to minimize greenhouse gas emissions. It will include an all-electric drive FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs. There will be an optimized power usage with Waste Heat Recovery Units and optimized water cooling for improved efficiency. A permanent methane detection and monitoring system will be installed relying on a network of sensors.

The award follows completion of front-end engineering and design studies, and the final investment decision on the project by the Joint Venture operated by TotalEnergies EP Suriname B.V. SBM Offshore is expected to operate the unit under an operations and maintenance agreement.

The GranMorgu project is the first development within Block 58, circa 150 kilometers offshore Suriname. TotalEnergies is the operator holding a 50 percent interest in Block 58, alongside APA Corporation. Staatsolie has announced its intent to exercise its option to enter the development project with up to 20% interest.

The FPSO will be the first large deepwater project development in Suriname with an expected production capacity of up to 220,000 barrels of oil per day and associated gas treatment capacity of up to 500 million cubic feet per day. The FPSO will be spread moored in water depth of about 400 meters and will be able to store around 2 million barrels of crude oil. First oil is expected in 2028.

SBM Offshore signs an operations and maintenance contract for FPSO GranMorgu with TotalEnergies

19 June 2025

SBM Offshore announces that it has signed an operations and maintenance contract with TotalEnergies EP Suriname B.V., an affiliate of TotalEnergies, for the FPSO GranMorgu, as part of the field development project located in Block 58 in Suriname.

The operations and maintenance contract covers the operation readiness phase before first oil as well as the operations and maintenance services for a minimal period of two years after first oil with extension options.

This contract reinforces SBM Offshore’s long-term strategic partnership with TotalEnergies and marks a significant milestone as SBM Offshore becomes the first FPSO operator in Suriname. It is a testimony to SBM Offshore’s focus on excellence throughout the entire project’s lifecycle, from the allocation of our eighth Fast4Ward® MPF hull to our extensive experience in asset management supporting TotalEnergies’ operations.

Technip Energies awarded a major contract by TotalEnergies for the topsides of the GranMorgu FPSO unit in Suriname
November 14, 2024

Technip Energies (PARIS:TE), in partnership with SBM Offshore, has been awarded a major(1) contract by TotalEnergies for the GranMorgu Floating Production, Storage and Offloading vessel (FPSO) in Suriname.

Under this contract, the joint-venture between SBM Offshore and Technip Energies will construct and install a Floating Production, Storage and Offloading vessel (FPSO), leveraging Technip Energies’ expertise in engineering and modularization for the topsides and SBM Offshore’s Fast4Ward® hull.


Thanks to the joint expertise of the two companies, the project will be designed to minimize greenhouse gas emissions. It will include an all-electric drive FPSO configuration, with zero routine flaring and full reinjection of associated gas into the reservoirs. There will be an optimized power usage with Waste Heat Recovery Units and optimized water cooling for improved efficiency. A permanent methane detection and monitoring system will be installed relying on a network of sensors.


Marco Villa, Chief Business Officer of Technip Energies commented: “We are delighted to have been chosen by TotalEnergies, together with our partner SBM Offshore, for the GranMorgu FPSO project in Suriname. By utilizing our modularization expertise, we will design the topsides of this all-electric drive FPSO and oversee the fabrication process in collaboration with our partner. This award highlights Technip Energies’ established capability to incorporate technologies that reduce greenhouse gas emissions in any type of industrial installation.”

This project is the first FPSO project in Suriname and is located in Block 58, circa 150 kilometers offshore Suriname.

(1) A “major” award for Technip Energies is a contract award representing above €1 billion of revenue.

Staatsolie and the GranMorgu Project backed by broad (inter)national confidence

Staatsolie concludes US$ 1.6 Billion bank loan



Staatsolie Maatschappij Suriname N.V. concluded a US$ 1.6 billion bank loan with a group of 18 banks and financial institutions in total on Wednesday, 14 May 2025. With this loan, Staatsolie will finance its twenty percent participation in the GranMorgu project in the offshore block 58.

Staatsolie has secured a loan amounting to US$ 1.6 billion from a consortium of international, regional and local banks and financial institutions.

Staatsolie will use the new loan to fully repay the outstanding bank loan of US$ 130 million and finance the twenty percent participation in the GranMorgu project. Current estimates indicate that US$ 2.4 billion is required for this. In addition to the bank loan, the financing needed for GranMorgu will include own cash, cash flow from the business, and the proceeds from the bonds issued in March 2025.

Staatsolie is highly regarded nationally and internationally, thanks to its solid track record– especially in its dealings with financial institutions. Strong governance and adherence to contractual obligations, combined with a positive outlook, provided a sound basis for securing this major loan.