While Guyana races ahead, Suriname’s first FPSO moves closer to 2028 startup

As Guyana continues to expand its offshore oil production with four producing FPSOs and two more projects under development, neighbouring Suriname is moving closer to joining the region’s emerging oil-producing nations.

SBM Offshore has confirmed that construction of FPSO GranMorgu, which will support TotalEnergies’ first oil development offshore Suriname, is progressing on schedule, with the vessel now more than 50% complete but less than 75% complete.

The update was provided in SBM Offshore’s half-year 2026 earnings report, where the company said topsides fabrication work continues on the vessel, with first oil expected in 2028.

FPSO GranMorgu will be deployed for the GranMorgu development in Suriname’s offshore Block 58, operated by TotalEnergies with partners APA Corporation and Petronas.

The vessel is designed to produce up to 220,000 barrels of oil per day, making it one of the largest offshore production facilities planned for the region.

The development highlights the contrasting stages of offshore oil growth between the two neighbouring countries.

Guyana has already established itself as one of the fastest-growing oil producers globally, with four FPSOs currently producing offshore the Stabroek Block

Together, these vessels have helped push Guyana’s offshore production capacity to around 900,000 barrels per day.

Guyana is also preparing for its next phase of expansion, with two additional FPSOs under construction

Each vessel is designed for approximately 250,000 barrels per day, meaning Guyana could add another 500,000 barrels per day of production capacity once both projects come online, subject to commissioning schedules.

For Suriname, GranMorgu represents a historic milestone — the country’sfirst major offshore oil production project.

The development follows years of exploration success in Block 58, where multiple discoveries were made, but commercial production required a large-scale investment decision.

TotalEnergies approved the GranMorgu project in 2024, marking the transition from exploration to development.

The project will use SBM Offshore’s Fast4Ward® design, a standardized FPSO concept aimed at reducing construction time and improving project efficiency.

The progress of GranMorgu reflects a broader transformation taking place across the Guyana-Suriname basin, which has become one of the world’s most closely watched offshore oil regions.

SBM Offshore is involved in both countries’ offshore expansion:

·       In Guyana, the company operates and maintains Liza Destiny, Liza Unity, Prosperity and ONE GUYANA, while building FPSO Jaguar.

·       In Suriname, it is building FPSO GranMorgu for TotalEnergies.

SBM identified GranMorgu as one of three major projects currently under construction worldwide, alongside FPSO Jaguar for Guyana’s Whiptail project and FSO Chalchi in Mexico.

The company said the simultaneous execution of multiple large-scale offshore projects demonstrates the strength of its delivery model.

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