TotalEnergies Has Spent Half of GranMorgu Investment
PARAMARIBO – TotalEnergies has now spent approximately US$6 billion on the development of the GranMorgu project off the coast of Suriname. That represents half of the total investment of around US$12 billion. According to CEO Patrick Pouyanné, the project is progressing as planned, while the company is also continuing to invest in the search for new oil reserves.
Pouyanné made the announcement on September 19 during a visit to President Jennifer Geerlings-Simons. The CEO was accompanied by a delegation from the French energy company. Later, the president was given a tour of Kuldipsingh Port Facilities, where part of the work for GranMorgu is being carried out.
Geerlings-Simons said she was impressed by the scale of the work and the equipment on site. “You get the impression that the project is really getting off the ground now. No turning back!” she remarked. Minister of Oil, Gas and Environment Patrick Brunings also expressed confidence that oil production would begin as planned in 2028.
Investing in Local Capacity
According to Pouyanné, TotalEnergies’ contribution to Suriname is already visible even before the first oil is produced. “Our efforts to develop skills and contribute to the prosperity of the country are not waiting until 2028. It is already a reality,” he said.
Staatsolie Managing Director Annand Jagesar emphasized that GranMorgu is not only about oil production. Creating opportunities for Surinamese companies and communities is also important, he said. Investments in local knowledge, training and entrepreneurship should contribute to broader economic development.
President Geerlings-Simons also underscored the importance of education and vocational training. Young people in particular need to prepare for the growing demand for technically and practically trained workers. The presence of oil does not automatically mean that everyone will benefit financially, she said.
In addition to developing GranMorgu, TotalEnergies continues to search for new oil reserves. Any discoveries could contribute to extending the project’s production period.