June 2025
Kirk Lovegrove & Company has acted as financial adviser to Moeve (formerly CEPSA) on the sale of CEPSA Suriname S.L., which holds a 25% interest in Block 53, offshore Suriname to TotalEnergies. As a result, TotalEnergies will join APA (45%, operator) and Petronas (30%) as a partner in the licence.
This also prepares the ground for the Baja discovery in Block 53 to be exploited as a satellite to the GranMorgu project in the adjacent Block 58, in which TotalEnergies is also a partner. Both licences cover part of the Guyana-Suriname “Golden Lane” trend area, which has been an exploration hotspot in recent years. Gran Morgu is due on stream in 2028 via a floating production, storage and offloading vessel able to handle 220,000 barrels per day of oil and 500 million cubic feet per day of gas. This transaction gives TotalEnergies a stake in four blocks centred around what will be Suriname’s first offshore development.
This transaction is part of Moeve’s programme to divest its upstream oil & gas interests and focus on the production of sustainable energy.