GranMorgu: the oil project and what it means for business
GranMorgu is Suriname's first large deepwater oil project: a floating production vessel (FPSO) in Block 58, about 150 km offshore, able to produce up to 220,000 barrels of oil a day from 2028. TotalEnergies is the operator, with APA Corporation and Staatsolie as partners. In October 2026 the project was 43% complete according to the Minister of Oil, Gas and Environment, and drilling of the production wells starts in December. For Surinamese businesses the opportunity is not the oil itself but everything the project needs onshore: ports, storage, transport, maintenance, catering, security, staff and services, now and for the twenty years after.
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- GranMorgu develops the Sapakara South and Krabdagu fields in Block 58, with more than 750 million recoverable barrels. Owners: TotalEnergies 40% (operator), APA 40%, Staatsolie 20%.
- There is no pipeline to shore: oil flows from the wells to the production vessel and leaves by tanker for the world market. Gas and water go back into the reservoir.
- The main contracts have been awarded: SBM Offshore and Technip Energies (production vessel), TechnipFMC (subsea systems), Saipem (flowlines), Halliburton (drilling and completing the wells).
- Logistics run through Paramaribo: Kuldipsingh Port Facility (ten-year contract with TotalEnergies), the Jules Sedney Harbour and the DORDT base.
- TotalEnergies expects 6,000 direct, indirect and induced jobs and USD 1 to 1.5 billion of spending in Suriname over the project's life. By the end of 2026 more than 600 Surinamese should work on the project; more than 100 local companies already supply it.
- To supply, register in the supplier portal (SSRP) and follow the requests from the main contractors. See Become an oil and gas supplier.
What GranMorgu is
GranMorgu is a deepwater development with no fixed platform and no installation onshore. It has four parts:
- The wells. Up to 32 wells on the seabed, in water depths from 100 to just over 1,000 metres: production wells that bring oil up, and injection wells that pump water and gas back to keep reservoir pressure up.
- The subsea system. Valves on each well (subsea trees), manifolds, control and power cables (umbilicals) and lines connecting everything to the production vessel: about 100 km of production flowlines and 90 km of injection lines.
- The production vessel (FPSO). A newly built vessel moored permanently on location. It separates oil, gas and water, stores about 2 million barrels of oil in the hull and offloads it to tankers at regular intervals. The vessel is all-electric, with about 150 MW of gas turbines on board, and can handle up to 500 million cubic feet of gas a day. That gas is not sold or routinely flared but injected back into the reservoir.
- The chain onshore. Ports and storage in Paramaribo, supply vessels, helicopters for crews, and an organisation that keeps the vessel running for twenty years or more.
So there is no refinery and no pipeline to Suriname. The oil is sold at sea. What stays in Suriname is the income of the state and Staatsolie, and whatever businesses and people earn from the project. TotalEnergies targets emissions below 16 kg CO2 per barrel, using the electric vessel, no routine flaring and permanent methane detection.
The numbers
| Item | Value | Source and note |
|---|---|---|
| Location | Block 58, about 150 km offshore, water depth 100 to 1,100 m | TotalEnergies; Saipem |
| Fields | Sapakara South (discovered 2021) and Krabdagu (2022) | TotalEnergies |
| Recoverable reserves | more than 750 million barrels | TotalEnergies; trade press cites 700 to 760 million |
| Production capacity | 220,000 barrels of oil a day | TotalEnergies, Staatsolie |
| Final investment decision (FID) | 1 October 2024 | TotalEnergies |
| Cost | about USD 10.5 billion at FID; in 2026 Reuters and trade journals cite USD 12 to 12.2 billion | Sources differ. Staatsolie said in September 2026 that the project is within budget. |
| Owners | TotalEnergies 40% (operator), APA Corporation 40%, Staatsolie 20% | Staatsolie, TotalEnergies |
| Number of wells | up to 32 (production, water and gas injection) | TotalEnergies environmental impact statement (2024) |
| Progress | 43% (Minister Brunings, 22 October 2026); about 50% of execution and of planned investment spent (TotalEnergies, September and October 2026) | The difference lies in what is measured: work or money |
| Production drilling starts | December 2026 according to the minister; "early 2027" according to TotalEnergies (September 2026) | Drilling and offshore installation run well into 2027 |
| First oil | 2028; Staatsolie says mid-2028 | TotalEnergies, Staatsolie |
How Staatsolie pays for its 20%
As a partner, Staatsolie pays 20% of the costs and receives 20% of the oil. Staatsolie estimated the financing needed at USD 2.4 billion. It was secured in 2025 from three sources: a USD 1.6 billion loan from 18 banks and financial institutions (May 2025, coordinated by Afreximbank), a bond issue in Suriname in March 2025 that raised USD 516 million (USD 211.7 million more than targeted) and its own cash flow. The bonds were bought by Surinamese individuals and companies; interest is paid every six months, most recently on 23 September 2026.
Who builds what: the main contractors
The big packages were awarded to international companies at the end of 2024. For Surinamese businesses these are the customers to know: they buy locally for logistics, maintenance, staff and services.
| Package | Contractor | Scope | Status |
|---|---|---|---|
| Production vessel (FPSO) | SBM Offshore with Technip Energies | SBM supplies the hull (Fast4Ward design) plus construction and installation; Technip Energies the topsides. SBM then operates the vessel for at least two years after first oil, with extension options. | First steel cut May 2025 in China; vessel about half complete (May 2026) |
| Subsea production systems | TechnipFMC | Subsea trees, manifolds, connectors, umbilicals, flexible risers and jumpers; a contract above USD 1 billion | First major components arrived in Paramaribo in September 2026 |
| Flowlines and risers (SURF) | Saipem | About 100 km of production flowlines and 90 km of water and gas injection lines, installation of risers and umbilicals; USD 1.9 billion | Offshore work started June 2026 with the vessel Normand Navigator |
| Drilling and completing wells | Halliburton | Integrated drilling and completions contract for the development programme | Awarded 13 July 2026; nearly 70% Surinamese staff according to the minister |
| Drillships | Including Noble Corporation (Noble Valiant) | Drillship for TotalEnergies' programme in Suriname, according to Noble's fleet status (August 2025). Which vessel drills which well has not been published. | Drillships expected at the end of 2026 |
| Integrated logistics base | Kuldipsingh Port Facility | Ten-year contract with TotalEnergies EP Suriname for a central port and logistics base for offshore operations | Announced November 2025, in use since 2026 |
| Saipem logistics | Jules Sedney Harbour and DORDT base, Paramaribo | A 30,000 to 40,000 m² area for receiving and storing pipe and equipment; DORDT for heavy subsea structures | In use since June 2026 |
| Helicopters and supply vessels | Not published in detail | Crew transport and supply of the drillships and the production vessel | Follow the requests from TotalEnergies and Staatsolie |
Halliburton reports that it upgraded a liquid mud and cement plant with local suppliers and helped build Suriname's first workshop for drilling and completion tools. That is exactly the kind of work local companies step into: construction, maintenance, electrical work, transport and storage around a main contractor's base.
Timeline: what is bought in each phase
Each phase needs something different. If you know which phase the project is in, you know what is being asked for and can have your certificates, equipment and people ready in time.
| Period | Phase | What local businesses can supply |
|---|---|---|
| 2020 to 2023 | Exploration and appraisal (six discoveries in Block 58) | Finished. Mainly port services, customs clearance, hotels and transport at the time. |
| Oct 2024 | Final investment decision (FID) | Start of the big contracts abroad. |
| 2025 to 2027 | Construction of the vessel and subsea systems (abroad), build-up of the logistics bases (Paramaribo) | Yards, warehouses, fencing, construction and renovation, electrical work, cranes and forklifts, storage, customs brokerage, road transport, security, cleaning, office space, IT, temporary staff. |
| Dec 2026 to 2028 | Drilling the wells and offshore installation | Supplying the drillships: fuel, water, food, waste (including drilling waste), hazardous materials, mud logistics, laboratories, tank and bulk storage, crew changes, hotels and transport, medical services, catering, equipment maintenance and repair, welding and fabrication, inspection and certification. |
| 2028 | Vessel arrives, hook-up and start-up; first oil | Peaks in crew transport and accommodation, marine services, communications, security and emergency response (oil spill response, medical evacuation). |
| 2028 to 2048 and beyond | Production: twenty years or more | Ongoing contracts: supply, maintenance, spare parts, catering and housekeeping on board, laundry, waste processing, training and certification, rotational staff, financial, legal and HR services. This is the largest and most stable market. |
| 2027 to 2028 | New exploration in Block 58: four wells | The same kind of services as during drilling. New finds could later be tied back to GranMorgu or lead to a second production vessel; Staatsolie says so openly. |
Local content: what is already spent in Suriname
The oil and gas sector spent a record USD 367 million in Suriname in 2025: USD 107 million by Staatsolie itself and about USD 260 million by the offshore partners and their subcontractors. In the same year 731 new local suppliers registered in the portal. TotalEnergies expects USD 1 to 1.5 billion of spending in Suriname over GranMorgu's life and 6,000 direct, indirect and induced jobs. In September 2026 more than a hundred Surinamese companies were supplying the project and, according to TotalEnergies, "hundreds" of Surinamese professionals were working on it. By the end of 2026 there should be more than 600.
There is no Local Content Act yet. What applies is in the Petroleum Act 1990 (last amended by S.B. 2022 no. 152) and in the production sharing contract: Surinamese staff where possible, training where expertise is missing, and reporting on both. A bill is to go to the National Assembly in 2027. Details on Become an oil and gas supplier and Oil and gas law.
Environment and permits
In 2024 TotalEnergies submitted an Environmental Impact Statement to the then NIMOS covering the drilling of the 32 wells, the subsea system, the production vessel and later decommissioning, with a stakeholder engagement plan. NIMOS has since been absorbed into the National Environmental Authority (NMA), which issues permits and supervises under the Environmental Framework Act (S.B. 2020 no. 97). TotalEnergies also runs a Biodiversity Action Plan, with projects such as mangrove restoration along Weg naar Zee. For suppliers this means that waste processing, monitoring, laboratories and oil spill response become regulated markets where you need a permit and documented procedures. See Environmental rules for business.
What does the state earn?
Exact amounts are not public: the terms of the Block 58 contract have not been published and the income depends on the oil price and costs. How the system works is known:
- Royalty. A fixed share of production goes to the state. For new contracts under Staatsolie's Open-Door Offering it is 6.25% of gross production.
- Cost oil and profit oil. The oil companies first recover their costs from part of the production (in the new contracts at most 80% a year after royalty). The rest, profit oil, is shared under a formula that becomes more favourable to Suriname as the project becomes more profitable.
- Income tax. 36% in new contracts, fixed for the life of the contract.
- Staatsolie as partner. Staatsolie receives 20% of the oil and pays 20% of the costs. In 2025 Staatsolie already contributed USD 400 million to the treasury (taxes, dividend and gold royalties), about 30% of all government revenue, without any offshore production.
The IMF expects the economy to grow by about 4% a year until 2028 and by about 30% in 2028, the year of first oil. Because the companies recover their investment first, the largest government revenues only arrive after some years of production. The IMF points to strong institutions and implementing the sovereign wealth fund law as conditions for managing the money well. More on Oil money and business and Economy in figures.
How your business gets involved
- Choose what you can really deliver. Check the timeline above for the coming phase and what it needs. Specialise: logistics, maintenance, catering, security, waste, IT or staffing.
- Get your company in order. KKF registration, taxes paid, auditable books, insurance and a written safety policy.
- Register in the SSRP, the supplier portal used by TotalEnergies, Staatsolie and the main contractors, and complete your profile.
- Follow the requests. Staatsolie publishes Expressions of Interest; we collect them on Tenders.
- Approach the main contractors (SBM, TechnipFMC, Saipem, Halliburton) through their local offices and supplier days; they buy a lot locally.
- Invest in certificates and people. ISO 9001, 14001 and 45001, offshore safety training for your staff. See Oil and gas jobs.
What to watch in the coming years
- Start of production drilling (December 2026 or early 2027) and arrival of the drillships
- Arrival of the production vessel in Surinamese waters (expected 2028) and the start-up date
- Results of the four new exploration wells in Block 58 (2027 to 2028) and whether a second vessel follows
- A possible tie-back of the Baja discovery in neighbouring Block 53
- The Local Content Act (to parliament in 2027) and the set-up of the savings fund for oil revenue
- Petronas' investment decision for gas in Block 52, a second large project. See Oil blocks and concessions.
Overview of the whole sector: Oil and gas.
Sources
- TotalEnergies: GranMorgu final investment decision (1 October 2024)
- TotalEnergies Suriname: the GranMorgu project
- TotalEnergies Suriname: 6,000 jobs, USD 1 to 1.5 billion in Suriname
- TotalEnergies: first subsea equipment arrives, Kuldipsingh, 600 jobs (19 September 2026)
- TotalEnergies: 50% of execution, four exploration wells (October 2026)
- Staatsolie: TotalEnergies CEO visit, within budget (21 September 2026)
- Suriname Herald: 43% complete, drilling in December (22 October 2026)
- GFC Nieuws: Halliburton nearly 70% Surinamese staff (23 October 2026)
- Reuters via Pipeline & Gas Journal: mid-2028, valued at USD 12 billion (20 September 2026)
- Offshore Magazine: FPSO specifications, first steel May 2025
- Staatsolie: USD 1.6 billion loan, financing need USD 2.4 billion (14 May 2025)
- Staatsolie: 2025 bond issue
- Staatsolie: 2025 results, USD 400 million to the state (15 May 2026)
- Staatsolie Sustainability Report 2025 (local spend USD 367 million, 731 suppliers)
- SBM Offshore: operations and maintenance of FPSO GranMorgu (19 June 2025)
- Technip Energies: GranMorgu FPSO topsides (14 November 2024)
- TechnipFMC: GranMorgu iEPCI contract (14 November 2024)
- Saipem: USD 1.9 billion contract (14 November 2024)
- Offshore Technology: Saipem starts offshore work, Jules Sedney Harbour and DORDT (June 2026)
- Halliburton: GranMorgu drilling and completions contract (13 July 2026)
- Brazil Energy Insight: Noble Valiant for TotalEnergies in Suriname (August 2025)
- Kuldipsingh: ten-year logistics base contract (November 2025)
- Oil & Gas Journal: environmental impact statement to NIMOS (August 2024)
- Milieuraamwet, S.B. 2020 no. 97
- Staatsolie: Open-Door Instructions, fiscal terms for new contracts (24 November 2025)
- IMF: 2025 Article IV, growth of about 30% in 2028 (February 2026)
Checked on 26 October 2026. General information, not investment or legal advice. Project schedules and figures change; check the current position with TotalEnergies Suriname and Staatsolie.
Frequently asked questions
When does GranMorgu start producing?
First oil is planned for 2028; Staatsolie says mid-2028. Drilling of the production wells starts in December 2026 according to the minister, and in early 2027 according to TotalEnergies.
Who owns GranMorgu?
TotalEnergies is the operator with 40%, APA Corporation holds 40% and Staatsolie 20%. Staatsolie financed its share with a USD 1.6 billion loan, a USD 516 million bond and its own funds.
How much does GranMorgu cost?
About USD 10.5 billion at the investment decision in October 2024. In 2026 Reuters and trade journals cite USD 12 to 12.2 billion; Staatsolie said in September 2026 that the project is within budget.
Will there be a pipeline or refinery in Suriname?
No. The oil flows from the wells to a floating production vessel about 150 km offshore and is loaded into tankers there. Gas and water are injected back into the reservoir.
How many jobs does GranMorgu create?
TotalEnergies expects 6,000 direct, indirect and induced jobs over the project's life and more than 600 Surinamese on the project by the end of 2026. More than 100 local companies already supply it.
How do I become a GranMorgu supplier?
Register your company in the Suriname Supplier Registration Portal (SSRP), used by TotalEnergies and the main contractors, complete your profile and respond to the Expressions of Interest from Staatsolie and the contractors.
Who are GranMorgu's main contractors?
SBM Offshore and Technip Energies build the production vessel, TechnipFMC supplies the subsea systems, Saipem lays the flowlines and Halliburton drills and completes the wells. Kuldipsingh Port Facility is a logistics base.
How much will Suriname earn from GranMorgu?
Exact amounts are not public. The state earns through royalty, profit oil, income tax and Staatsolie's 20% share. The IMF expects about 30% economic growth in 2028; the largest revenues come after some years of production.