By Christie U. Omonigho
Energy Window International (Media) – TotalEnergies EP Nigeria says it has signed a farmout agreement to sell to Star Deep Water Petroleum Limited, a Chevron company, a 40% participation in the PPL 2000 and PPL 2001 exploration licenses, offshore Nigeria, in furtherance to its ongoing discussion with the later on global exploration opportunities.
Located in the prolific West Delta basin, the PPL 2000 & 2001 licenses according the French energy major in an email EWI Publishers are covering an area of approximately 2,000 square kilometers and were awarded to a consortium of TotalEnergies and South Atlantic Petroleum following the 2024 Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission. TotalEnergies says it will remain operator with a 40% participation alongside Chevron (40%) and South Atlantic Petroleum (20%).
The French major says the new joint venture reinforces its global offshore exploration collaboration with Chevron, following the June acquisition of a 25% working interest in a portfolio of esxploration leases offshore United States comprising 40 Chevron-operated blocks.
“After launching our joint venture in US offshore exploration in June, we’re delighted to now expand our collaboration to Nigeria to unlock new resources in the West Delta basin,” says Nicola Mavilla, Senior Vice-President Exploration at TotalEnergies. “This new joint venture aims at derisking and developing new opportunities in Nigeria, in line with the objectives of the country.”
However completion of transaction is subject to customary conditions, including regulatory approvals.