Movement Alert|TotalEnergies Rises 3.02% in Regular Trading, Suriname Deepwater Project Advances to Substantial Development Phase

Market Focus
Jul 14

On July 13, TotalEnergies rose 3.02% in regular trading, trading at $80.87/share, with turnover of $43.4 million. The stock gained momentum after Halliburton announced it had secured a long-term integrated drilling and completion contract for TotalEnergies-operated GranMorgu deepwater development project in Suriname.

According to the announcement, the contract covers integrated digital and automation technologies aimed at enhancing operational efficiency and reducing costs. The scope also includes local infrastructure investment and the construction of Suriname's first drilling and completion workshop. The contract award marks the GranMorgu deepwater project formally entering its substantial development phase, serving as a positive catalyst for TotalEnergies' upstream business growth.

Within the Integrated Oil & Gas sector, the broader group showed strength. Among peers, BP up 4.06%, Exxon Mobil up 3.82%, Chevron up 2.74%, Occidental up 2.69%, and Shell up 1.98%.

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