TotalEnergies has launched the development studies for an oil project in Block 58, offshore Suriname. The French energy group is the operator of Block 58, with a 50% interest, alongside APA Corporation (50%). Appraisal of the two main oil discoveries, Sapakara South and Krabdagu, was successfully completed in August 2023, with the drilling and testing of three wells. It confirmed combined recoverable resources close to 700 mbl for the two fields. These reserves, located in water depths between 100 and 1,000 meters, will be produced through a system of subsea wells connected to a FPSO (Floating Production, Storage and Offloading unit) located 150 km off the Suriname coast. The US$9bn project should produce 200,000 bbl/d. The detailed engineering studies (FEED) will start by the end of 2023 and the Final Investment Decision (FID) is expected by the end of 2024 with a first production target in 2028.