Floater heavyweights SBM Offshore and Modec have initiated early conceptual engineering studies to compete for a major contract to build and supply a large floating production, storage and offloading vessel to serve Suriname’s first deep-water project.

French supermajor TotalEnergies and US independent APA Corporation in mid-September launched development studies for its $9 billion oilfield project in Block 58 with the aim of taking a final investment decision by the end of 2024.