SBM Offshore reserves Fast4Ward® hull for the Block 58 development

SBM Offshore announced that, in partnership with Technip Energies, and in line with the Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the development project located in the Block 58 in Suriname with TotalEnergies EP Suriname B.V., an affiliate of TotalEnergies, a Fast4Ward® hull for the Block 58 development project has been reserved by TotalEnergies.

The B58 development is the first development within Block 58, circa 150 kilometers offshore Suriname. TotalEnergies is the operator and holds a 50 percent interest in Block 58 with APA Corporation holding the other 50 percent. The final investment decision is expected in the fourth quarter of 2024, for a production start-up in 2028.

TotalEnergies is the operator of Block 58, with a 50% interest, alongside APA Corporation (50%). Block 58 is said to be located about 150 kilometers off the coast of Suriname and includes two oil discoveries – Sapakara South and Krabdagu – with water depths ranging from 100 meters to 1,000 meters and combined recoverable resources of about 700 million barrels.

Recently, TotalEnergies and the Suriname State Oil Company (Staatsolie) agreed on the field development area in order to maximize value for the partners in Suriname and Block 58 over a 25-year development period.

The B58 development project, the first development project within Block 58, is operated by TotalEnergies and is expected to have a final investment decision (FID) in the fourth quarter of 2024, with production scheduled to start in 2028. The FPSO for the project will have a capacity of 200,000 barrels of oil per day and all associated gas will be reinjected into the reservoir to reduce the greenhouse gas emissions.

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