TotalEnergies, a major player in the global energy sector, has initiated September with significant strides in its exploration endeavors, substantially bolstering its footprint across the African continent. The company recently announced the acquisition of two pivotal exploration agreements: the Production Sharing Contracts (PSC) for Nigeria's offshore blocks PPL 2000 and PPL 2001, and the Nzombo exploration permit situated off the Republic of the Congo.
These strategic acquisitions are poised to expand TotalEnergies' upstream portfolio, particularly in regions where it already maintains a robust presence. In Nigeria, the French energy behemoth will hold an 80% operating interest in the newly secured blocks, spanning approximately 2,000 square kilometers within the West Delta basin. This development, granted under Nigeria's 2024 Upstream Petroleum Regulatory Commission's Exploration Round, includes a commitment to drill at least one exploration well. Similarly, in the Republic of the Congo, TotalEnergies has secured a 50% operating stake in the Nzombo permit, covering 1,000 square kilometers. This block is strategically located near the existing Moho production facilities, which TotalEnergies EP Congo currently manages, with plans for an exploration well before the close of 2025. These moves underscore the company's strategy to enhance its exploration activities with high-impact prospects that align with its goals for cost-efficient and environmentally responsible new discoveries.
TotalEnergies' persistent investment in these African territories highlights the critical role these regions play in its global hydrocarbon production, with Nigeria alone contributing significantly to the company's daily output. Such continued engagement not only promises potential new energy reserves but also signifies a commitment to the economic development of these nations. The strategic pursuit of these exploration opportunities reflects a forward-looking approach to meet future energy demands while adhering to evolving industry standards for development and emissions.