TotalEnergies and APA Corp. to Invest $10 Billion in Suriname Offshore Oil Project

The GranMorgu project aims to produce 220,000 barrels per day by mid-2028, transforming Suriname's economy.

TotalEnergies and APA Corp. announced a $10 billion investment to extract oil off Suriname's coast.
The GranMorgu project is expected to yield 220,000 barrels per day by mid-2028.
Suriname's President Chan Santokhi hailed the project as a pivotal moment for the country's future.
Revenue from the project will be used to improve living standards in Suriname, which has a poverty rate of 18%.
Staatsolie, Suriname's national oil producer, will hold a 20% stake and plans to issue bonds to finance its participation.