By America Hernandez
PARIS/MILAN (Reuters) -French oil major TotalEnergies has awarded engineering contracts worth at least $3 billion as part of its fast-track development of Suriname’s first offshore project.
Italian energy contractor Saipem said on Thursday it had signed a $1.9 billion deal with a subsidiary of TotalEnergies in Suriname for the subsea development of the GranMorgu field.
French firm TechnipEnergies and Dutch company SBM Offshore were also awarded a contract worth more than 1 billion euros ($1.1 billion) to build a floating production storage and offloading (FPSO) vessel on the project, they said in a separate statement.
Last month, TotalEnergies and U.S. exploration firm APA took a final investment decision on the $10.5 billion development, the tiny South American country’s first.
GranMorgu is estimated to hold more than 700 million barrels of recoverable resources, with first oil expected in 2028.
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The FPSO will be fully electrified and use waste heat recovery technology to reduce emissions, with all associated gas to be re-injected in the reservoir, TechnipEnergies said.
The project will also be outfitted with real-time sensors to detect potential methane leaks, TotalEnergies said.
($1 = 0.9494 euros)
(Reporting by Sara Rossi in Milan Editing by Alvise Armellini, Mark Potter and Tomasz Janowski)
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