TechnipFMC wins contract worth over $1 billion for recently sanctioned oil project in Suriname

UK-headquartered energy technology provider TechnipFMC has secured a contract it describes as major for an oil project offshore Suriname for which France’s TotalEnergies recently reached the final investment decision (FID).

TechnipFMC has been awarded an integrated engineering, procurement, construction, and installation (iEPCI) contract, worth over $1 billion, for the GranMorgu project on Block 58, said to be the first oil & gas development offshore Suriname.

The company’s scope includes the delivery of Subsea 2.0 tree systems, manifolds, connectors, and topside control equipment, as well as umbilicals, flexible jumpers, and flexible risers. 

The project will combine TechnipFMC’s subsea architecture with Saipem’s EPCI solutions and pipelay capabilities, namely J-Lay, which, according to TechnipFMC, is the optimal solution given the location offshore Suriname to accelerate time to first oil and increase schedule certainty.

Jonathan Landes, President of Subsea at TechnipFMC, said: “We are very pleased to receive this iEPCI™ award for the GranMorgu project. We are bringing our new frontier experience and differentiated technology—including Subsea 2.0®—while leveraging the complementary capabilities of our vessel ecosystem.” 

The award will be included in TechnipFMC’s inbound orders in the fourth quarter of 2024.

TotalEnergies is the operator of Block 58 with a 50% interest, with APA Corporation holding the other half, however, Staatsolie intends to exercise its option to enter the development with up to 20% interest.

The GranMorgu project will develop the Sapakara and Krabdagu oil discoveries, on which an exploration and appraisal campaign was completed in 2023. The fields are located 150 kilometers off the coast of Suriname and hold recoverable reserves estimated at over 750 million barrels in water depths between 100 and 1,000 meters.

The FID for the project was reached last month. With the construction and installation phases estimated to take approximately four years, the first oil is anticipated in 2028 at the earliest. 

ADC Energy, an Aberdeen-headquartered provider of dynamic integrated rig inspections, was recently hired on a multi-year assignment related to the selection and acceptance of up to three offshore drilling rigs for the project.