LatAmOil: TotalEnergies views Guyana as model for cost savings in Suriname

TotalEnergies (France) is looking to learn from the costs savings that ExxonMobil (US) has racked up at the Stabroek block offshore Guyana as it makes plans to develop Suriname’s oil-rich Block 58.

Patrick Pouyanne, TotalEnergies’ CEO, outlined the company’s strategy at a recent investor briefing, emphasising his intent to emulate the efficient field development methods employed by ExxonMobil, which has brought three oilfields on stream at Stabroek since 2019.

By adopting similar approaches, particularly in managing leased floating production, storage and off-loading (FPSO) vessels, TotalEnergies should be able to optimise operational costs, he said.

“With Suriname, we are trying to work on an innovative solution: looking carefully to what our big friend in Guyana is doing to benefit from their own way of developing fields,” Pouyanne explained. “We try to transfer part of their way to manage some of the leased FPSO [floating, production storage offloading vessel] in order to be efficient on the costs.”