Suriname NOC Staatsolie Maatschappij Suriname raised USD 515.8 million with a new bond issue on Sunday, eclipsing its target, the company said on Monday.
Proceeds from the bond issue will be used by Staatsolie to co-fund its participation of up to 20% in the development of the GranMorgu offshore oilfield in Block 58.
In October 2024, TotalEnergies unveiled a USD 10.5-billion FID on the GranMorgu project, which will develop the Sapakara and Krabdagu oil discoveries, with first oil expected in 2028.