TotalEnergies Expands West Africa Footprint With New Offshore Exploration Licenses

TotalEnergies SE (NYSE:TTE) opened September with two significant exploration agreements, reinforcing its upstream portfolio across Africa.

On Tuesday, the French energy major announced it had signed a Production Sharing Contract (PSC) for Nigeria's offshore blocks PPL 2000 and PPL 2001.

TotalEnergies will operate the licenses with an 80% stake, while partner South Atlantic Petroleum holds the remaining 20%.

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The licenses, awarded under the Nigerian Upstream Petroleum Regulatory Commission's 2024 Exploration Round, span roughly 2,000 ...