Announced

TotalEnergies, APA Corporation and Staatsolie to form GranMorgu in a $10.5bn deal.

Synopsis

TotalEnergies, a French multinational integrated oil and gas company, APA Corporation, a holder of companies exploring and producing oil and natural gas and Staatsolie, a Surinamese oil and gold company, agreed to form GranMorgu, a joint venture operating Block 58 offshore in Suriname, in a $10.5bn deal. “I am very pleased to launch today the GranMorgu project alongside our partners Staatsolie and APA and I sincerely thank the State of Suriname for its strong support. Building on TotalEnergies’ pioneering spirit, this landmark project marks the first offshore development in the country and capitalizes on our extensive expertise in deep offshore innovation. Launched only a year after the end of appraisal, GranMorgu fits with our strategy to accelerate time-to-market and develop low-cost and low emission oil projects," Patrick Pouyanné, TotalEnergies Chairman and CEO.

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