Nigeria has awarded TotalEnergies two new deepwater exploration licenses, a step forward in the French company’s expansion strategy in the region. The PPL 2000 and PPL 2001 concessions, located in the West Delta basin, were awarded following the 2024 Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission.
New offshore exploration permits in prolific basin
With a combined area of approximately 2,000 square kilometers, these offshore blocks are offshore blocks are part of one of the most active areas with the greatest hydrocarbon potential in the Gulf of Guinea. The production sharing contract(PSC) signed with the Nigerian authorities provides for the drilling of at least one exploratory well as part of the initial program.
[post_relacionado]The company acts as operator with an 80% stake, while South Atlantic Petroleum retains the remaining 20%. This award represents the first time in more than ten years that an international company has been awarded licenses through a competitive round in Nigeria, enhancing TotalEnergies’ position as a leading player in the country’s energy transition.
The exploration strategy TotalEnergies’ exploration strategy focuses on high-impact, drill-ready prospects that are viable for efficient development. The company’s sustained presence in Nigeria for more than six decades, coupled with its network of 540 service stations, is evidence of its commitment to the country’s energy and social development.
Source and photo: TotalEnergies