The French energy group TotalEnergies has published its Strategy & Outlook Presentation 2024. Among the company’s targets are a yearly increase of about 3% on its oil and gas production until 2030, considering natural gas at the core of the company’s transition strategy (expecting a 50% LNG growth by 2030). The company expects to generate more than 100 TWh of power in 2030, of which 70% should come from renewable sources and 30% from flexible-based sources. In the 2025-2030, TotalEnergies expects to invest between US$16-18bn per year, with a yearly US$5bn investment in the development of low-carbon energies.
Among the investments planned, TotalEnergies has reached a Final Investment Decision (FID) on the GranMorgu oil project offshore Suriname, which should develop the Sapakara and Krabdagu oil discoveries (Block 58) with recoverable reserves estimated at over 750 mbl. The project is located at 150 km off the coast of Suriname, includes a 220 kb/d FPSO unit for an estimated total investment of US$10.5bn, with first oil being expected in 2028. TotalEnergies is the operator of the Block 58 with a 50% share, alongside APA Corporation (50%).
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