TotalEnergies, together with its partner South Atlantic Petroleum, have signed the Production Sharing Contract (PSC) for two exploration licenses offshore Nigeria.
The PSC was signed for the PPL 2000 and PPL 2001 licenses, in which TotalEnergies is the operator with 80% working interest, while South Atlantic Petroleum holds the remaining 20% stake.
PPL 2000 and 2001, covering an area of approximately 2,000 square kilometers, are located in the prolific West Delta basin.
The work program includes drilling one firm exploration well.
“TotalEnergies is honored to be the first international company to be awarded exploration licenses in a bid round in Nigeria in more than a decade, marking a new milestone in our long-term partnership with the country.
“These promising block captures are fully aligned with our strategy of strengthening our Exploration portfolio with drill-ready and high impact prospects, that have the potential for low-cost and low-emissions developments from new discoveries in our core areas of expertise,” said Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies.