In Oct. 2024, TotalEnergies took a final investment decision (FID) for the GranMorgu project on Block 58. With an investment of approximately $10.5 billion, this is Suriname's largest single investment ever and marks the country's first major offshore oil development. TotalEnergies will act as operator with a 50 % interest alongside APA Corporation (50 %), while Staatsolie Maatschappij Suriname has the right to acquire up to 20 % of the interests before June 2025 . A 220,000 barrels per day Floating Production Storage and Offloading (FPSO) unit will be constructed within the project, using technologies to keep CO₂ emissions below 16 kg CO₂e/BOE. The first oil is expected to be produced in 2028.
Although Suriname is still in the finalizing stages of contracts and permitting procedures in 2025, TotalEnergies has already communicated concrete local content commitments. Paramaribo has been named the primary hub for administrative, support and logistics activities. Local companies will play a direct role in logistics, well services and in the installation and operational phases of subsea systems and the FPSO . Investment in local content is estimated at over $1 billion, with an estimated 6,000 jobs (2,000 direct and 4,000 indirect) to be created in Suriname . Simultaneously, an exploration campaign is underway in Block 64, in which TotalEnergies (40 % interest) is partnering with Petronas and QatarEnergy (30 % each) to drill the Macaw-1 prospect, with Staatsolie leading the facility support from Paramaribo .
TotalEnergies' experiences in other countries
TotalEnergies' practical experiences in countries such as Angola, Ghana and Nigeria exemplify how a strong focus on local content and investment in human capital can contribute to sustainable impact.
In Angola, where TotalEnergies has been operating in Block 20/11 since Oct. 2020 (the Kaminho project with a 40 % interest alongside Petronas and Sonangol), the project envisions an FPSO to be operational by 2028. Under Angolan Presidential Decree 271/20, TotalEnergies must reserve more than 10 million labor hours for Angolan companies, with emphasis on in-country fabrication and installation. At the same time, training programs for technicians, engineers and safety personnel were established in collaboration with the National Administration of Petroleum, Natural Gas and Biofuels (ANPG). Encouraging chain localization initiatives, for example, sourcing local materials and sourcing Angolan shipyards for FPSO modules, created an ecosystem in which the domestic industry grew steadily .
Ghana has been running the Local Content and Local Participation Act (LI 2204) since 2013, which requires that at least 5 % of shares in exploration and production projects must belong to indigenous Ghanaian companies. In addition, oil companies require a significant portion of their workforce (at least 90 %) to be Ghanaian, and encourage the establishment of regional training centers. Accordingly, TotalEnergies invested in training facilities in Kumasi and Takoradi, where courses in drilling techniques, safety management and offshore engineering were conducted. Partly as a result, more than 40 % of basic operational positions were filled by Ghanaian technicians .
In Nigeria, the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 acts as a tight framework for local content development. The law requires oil companies to submit a Local Content Plan (LCP) to the Nigerian Content Development and Monitoring Board (NCDMB) and that each service contract must have at least 51 % of local participation. Further, at least 70 % of the workforce must be Indigenes. TotalEnergies partnered with the Petroleum Technology Association of Nigeria (PETAN) to strengthen local suppliers and fund scholarships at the University of Port Harcourt. This approach increased domestic supplier participation from 15 % in 2015 to over 50 % by 2024, which not only led to a significant increase in local employment, but also built new capacities in the domestic supply chain.
TotalEnergies in Suriname and GranMorgu
With upcoming production in 2028, GranMorgu is expected to supply about 220,000 barrels per day, with Staatsolie allowed to acquire % of the interests until 20. TotalEnergies signed a memorandum of understanding (MOU) with the Suriname government in April 2025 to work together through the Ministry of Natural Resources to develop local skills and sustainable economic programs. Paramaribo will act as an administrative and logistics hub so that logistics companies, offshore service companies and local shipyards can offer their services for the deployment of floating drilling rigs and the FPSO. According to the current estimate, about 10 % of the contract volumes for procurement and services are reserved for local players, and the total investment in local content is estimated at more than $1 billion . This should lead to an expected 6,000 jobs in Suriname, including 2,000 direct and 4,000 indirect employment incentives.
Block 64 exploration: Human Capital and local suppliers
For the Macaw-1 exploration well in Block 64 (where drilling operations began on May 19, 2025), it was stipulated that 60 % of the required goods and services be supplied by Surinamese companies. TotalEnergies contracted Stena Drilling for the Stena DrillMAX driller and arranged for the local shipping port in Paramaribo to facilitate supplies in materials and personnel transportation. In addition, a partnership with Staatsolie is underway to fund schools and vocational training. This program allows Surinamese technicians to do internships on the drilling rig, provided they have the required certificates in safety and drilling technology . In this way, not only is local participation ensured, but also direct transfer of technical knowledge.
Local content regulation and human capital
Experiences in Ghana, Nigeria and Angola show how crucial a strong legal framework and investment in training are to stimulate local economic growth.
In Ghana, the Local Content Act of 2013 requires foreign oil companies to spend a minimum of 15 % of their contract budget on local suppliers. In addition, it requires that 90 % of employment within the sector be filled by Ghanaian professionals, and that 5 % of project profits go into a fund for training and capacity building. TotalEnergies' investments in drilling and safety management training institutes steadily increased the number of certified Ghanaian technicians, while the proportion of women in specialized positions rose to some 30 % .
In Nigeria, the NOGICD Act of 2010 ensures that every oil and gas project must have an approved Local Content Plan (LCP) before NCDMB grants a license. The law requires that in the tender, a minimum of 40 % of business activities must include local participation, growing to 70 % within five years. TotalEnergies in partnership with PETAN built educational programs at polytechnics in Warri and Lagos, increasing the number of trained local engineers from 120 in 2018 to 680 by 2024 .
In Angola, the Local Content Framework (since 2020) mandates that 25 % of manufacturing and construction work be done locally, increasing to 40 % within three years. TotalEnergies' Kaminho project for Block 20/11 requires partnerships with Angolan companies to build FPSO hulls in local shipyards. At the same time, TotalEnergies is invested with Sonangol in a Skill Development Program that trained 1,200 local technicians in subsea installation maintenance and operational management. In addition, a training center was opened in Huambo for safety mechanics and shipbuilding technicians, allowing the domestic industry to serve more and more parts of the production chain .
Implementation opportunities in Suriname
To translate the lessons learned from Ghana, Nigeria and Angola to Suriname, a holistic approach is crucial. It is recommended that Suriname develop its own "Suriname Local Content Act," stipulating that 20 % of all contract expenditures should be reserved for local companies in the initial phase of GranMorgu, increasing to 40 % within three years, divided between procurement, construction and operational services. In addition, this law would require TotalEnergies along with State Oil to submit a "Local Content Development Plan" (LCDP) to the Ministry of Natural Resources within 12 months of the investment decision. This LCDP should contain concrete objectives for training as well as internships within both technical and management positions. At the same time, it is advisable to establish a "Bureau Local Content Suriname", similar to Nigeria's NCDMB, which monitors compliance with objectives through annual reports and pre-qualifies on the basis of established standards.
Investing in Human Capital
Een tweede belangrijke speerpunt is de opbouw van Surinaams menselijk kapitaal. Hiervoor zou Suriname kunnen starten met het inrichten van een “Suriname Oil & Gas Scholarship Fund”, waaraan TotalEnergies, APA, Staatsolie en de overheid jaarlijks gezamenlijk $ 5 miljoen doneren. Dit fonds is bedoeld voor beurzen aan studenten die zich specialiseren in boortechnologie, offshore-engineering, milieumanagement en bedrijfsbeheer, bij voorkeur in samenwerking met gerenommeerde universiteiten in Nederland, Brazilië en Guyana . Daarnaast is het van groot belang in Paramaribo een regionaal “Technical Training Center” (TTC) op te richten, vergelijkbaar met de opleidingsinstituten in Kumasi en Warri. Deze faciliteit kan uitgerust worden met simulatoren voor boorinstallaties en noodprocedures. Om kwalitatief hoogwaardig onderwijs te bieden, kunnen ervaren ingenieurs uit Angola, Ghana en Nigeria worden uitgenodigd voor gastcolleges en workshops, zodat Surinaamse studenten en technici kennismaken met internationale best practices.
In addition, it is recommended that TotalEnergies and Staatsolie jointly set up internship and apprenticeship programs. In the start-up year of GranMorgu and the Block 64 drilling, every 150 Surinamese students and newly-trained technicians would be placed in a four- to six-week apprenticeship program on the FPSO or drilling rigs. Under the guidance of experienced supervisors, this would allow them to develop their skills on the job, provided they have obtained the required certifications in safety and drilling technology.
Strengthen local entrepreneurs
Strengthening local entrepreneurs is also essential to ensure that Suriname benefits from direct and indirect economic spin-offs. As in Nigeria, Suriname can introduce a "Vendor Development Program," in which Surinamese companies maintain a "Vendor Registry." In this they record their capabilities, certifications (such as ISO 9001 and SHEQ standards) and portfolio. TotalEnergies can then organize annual pre-qualification sessions based on this registry. To better prepare local entrepreneurs, it is recommended that State Oil and the Chamber of Commerce jointly offer free workshops on meeting international quality standards. For example, smaller SMEs can qualify for contracts in ship maintenance, catering, logistics and security services. Furthermore, a phased approach can be used for contract allocation: initially, Surinamese companies are involved in less complex categories, such as security and catering, and then gradually advance to more demanding work in subsea installations and offshore maintenance. In this way, local companies can grow in capacity and trade reputation.
An opportunity for sustainable development
TotalEnergies brengt met GranMorgu en de Block 64-exploratie aanzienlijke kapitaalstromen en technologische kennis naar Suriname. De voorbeelden uit Ghana, Nigeria en Angola tonen aan dat een krachtig wettelijk framework voor lokale content, in combinatie met gerichte investeringen in human capital, de basis legt voor echte waardecreatie in het binnenlandse ecosysteem. Voor Suriname betekent dit niet alleen de werkgelegenheid langs de kust, maar ook de opbouw van een duurzame, lokale toeleveringsketen die expertise behoudt en uitbreidt. Als beleidsmakers, Staatsolie en lokale ondernemers deze lessen daadwerkelijk omarmen, kan het GranMorgu-project niet alleen de toon zetten voor Suriname’s olie & gasector, maar ook fungeren als motor voor economische diversificatie. Alleen door te investeren in een solide juridisch raamwerk, intensieve scholingsprogramma’s en effectieve ondernemerssteun, kan Suriname de risico’s van “Dutch Disease” beperken en een veerkrachtig, kennisgedreven olie- en gasnetwerk realiseren.
