TotalEnergies greenlights ‘historic’ $10.5 billion oil project, enabling new dawn to break over Suriname's economy (Video)

The appraisal drilling at Block 58 was done with the Maersk Valiant (now called Noble Valiant) drillship; Source: Noble Corporation

TotalEnergies greenlights ‘historic’ $10.5 billion oil project, enabling new dawn to break over Suriname’s economy (Video)

TotalEnergies has kept its word by reaching a final investment decision (FID) for a giant oil project in Block 58 off the coast of Suriname before the year-end, as promised. With the construction and installation phases estimated to take approximately four years, the first oil is anticipated in 2028 at the earliest. The existing market prices indicate that the development will cost over $10 billion.