TotalEnergies announced an assignment agreement with Star Deep Water Petroleum Limited, an affiliate of Chevron, to transfer to it a 40% interest in the PPL 2000 and PPL 2001 exploration licenses, located offshore Nigeria.
A strategic area for exploration
The licenses PPL 2000 and PPL 2001 are located in the West Delta basin, one of the most active offshore development areas on the African continent and cover approximately 2000 square kilometers. The blocks were awarded to TotalEnergies and South Atlantic Petroleum during the 2024 Exploration Round, organized by the Nigerian Upstream Petroleum Regulatory Commission.
TotalEnergies will continue to be the operator of the licenses with a 40% interest, while Chevron, through Star Deep Water Petroleum, will also hold 40%. South Atlantic Petroleum will retain the remaining 20%.
Continuity of a strategic partnership
This divestment is part of a broader strategy that both companies are promoting to reduce risks and expand opportunities in high-potential areas. As of June 2024, the company had already acquired 25% of a portfolio of 40 offshore blocks in the United States operated by Chevron, marking the beginning of this global collaboration.
Following the launch of our US offshore exploration joint venture in June, we are pleased to extend our collaboration to Nigeria to discover new resources in the West Delta basin.
Nicola Mavilla, Senior Vice President, Exploration, TotalEnergies.
Source: TotalEnergies