TotalEnergies Secures Two Offshore Exploration Licenses in Nigeria
- TotalEnergies and South Atlantic Petroleum signed a PSC for PPL 2000 and 2001.
- The licenses cover 2,000 square kilometers in Nigeria's West Delta basin.
- The work program includes drilling one exploration well.
Exploration Licenses Awarded
TotalEnergies, holding an 80% stake and acting as the operator, along with its partner South Atlantic Petroleum, which holds a 20% stake, have secured the Production Sharing Contract (PSC) for the PPL 2000 and PPL 2001 exploration licenses. These licenses were awarded following the 2024 Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission.
Location and Scope
The PPL 2000 and 2001 licenses cover an area of approximately 2,000 square kilometers in the West Delta basin, a region known for its prolific hydrocarbon potential. The work program for these licenses includes the drilling of one firm exploration well.
Significance
This marks the first time in over a decade that an international company has been awarded exploration licenses in a bid round in Nigeria. The acquisition of these blocks aligns with TotalEnergies' strategy to enhance its exploration portfolio with prospects that offer potential for low-cost and low-emissions developments.
Source: TotalEnergies