TotalEnergies Takes 25% Stake in Suriname’s Block 53

PARIS – In a move that underscores its commitment to expanding its footprint in the burgeoning Suriname offshore market, TotalEnergies (NYSE:TTE) has inked a deal to acquire Moeve’s 25% stake in Block 53. This strategic play sees the French energy giant joining forces with APA (45%, operator) and Petronas (30%) as partners in the license.

Block 53, conveniently situated just east of Block 58 – where TotalEnergies (40%*, operator) and its partners greenlit the Final Investment Decision for the GranMorgu development in October 2024 – holds significant promise. The Baja-1 discovery, drilled near Block 58’s border, adds another layer of potential to this already attractive asset.

“This acquisition unlocks new resources for our low-cost, low-emission GranMorgu project,” stated Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. “It also highlights how TotalEnergies intends to leverage GranMorgu infrastructure to profitably develop additional resources and ultimately extend its production plateau, further fortifying the company’s position in Suriname’s deepwater oil and gas sector.”

* After 20% Staatsolie (NOC) back-in

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About TotalEnergies
TotalEnergies is a global, integrated energy powerhouse renowned for its diverse portfolio, spanning oil and biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. With a workforce exceeding 100,000, the company is dedicated to delivering reliable, affordable, and sustainable energy to a global audience. Operating in approximately 120 countries, TotalEnergies prioritizes sustainability across all its operations and future projects.

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Cautionary Note
The terms “TotalEnergies,” “TotalEnergies company,” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we,” “us,” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive, and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives, or trends contained in this document whether as a result of new information, future events, or otherwise. Information concerning risk factors that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

TotalEnergies Takes 25% Stake in Suriname's Block 53