TotalEnergies is expanding its footprint in Suriname’s oil and gas sector with the acquisition of a 25% stake in Block 53, the company said on Friday.
The acquisition was made from Spanish player Moeve, formerly known as CEPSA.
The move builds on the momentum of TotalEnergies’ flagship GranMorgu development and strengthens its strategic position in the basin.
Block 53 lies directly east of Block 58, where TotalEnergies (40%, operator) and its partners announced the FID for the GranMorgu development in October 2024. Block 53 contains the Baja-1 discovery, drilled near the border of Block 58.
“This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project,” said Javier Rielo, senior vice-president Americas, exploration and production at TotalEnergies.
“It also proves how TotalEnergies will leverage GranMorgu infrastructure to develop profitably additional resources and extend its production plateau, strengthening the position of the company in the offshore of Suriname.”
TotalEnergies has established a strategic footprint in Suriname through its operatorship of Block 58, where it leads the development of the GranMorgu project alongside APA Corporation and Staatsolie. With recoverable reserves estimated at more than 750 million barrels, the project is set to deploy an FPSO unit capable of producing 220,000 bopd, with first oil targeted for 2028. The development will implement best-in-class emissions-reduction technologies including zero routine flaring and full reinjection of associated gas.
In addition to Block 58, TotalEnergies operates Blocks 6, 8 and 64, awarded in the 2022–2023 bid round, in partnership with QatarEnergy, Petronas and Paradise Oil Company. TotalEnergies has committed over USD 1 billion in investments to Suriname’s economy and expects to generate more than 6,000 local jobs, underpinning its role as a long-term partner in the country’s energy transition.