TotalEnergies Wins Big: Secures Two Offshore Exploration Permits in Nigeria - FinancialEDGE

TotalEnergies (80%, operator), together with its partner South Atlantic Petroleum (20%), have signed the Production Sharing Contract (PSC) for the PPL 2000 and PPL 2001 exploration licenses offshore Nigeria, which were awarded following the 2024 Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission.

PPL 2000 & 2001, covering an area of approximately 2,000 square kilometers, are located in the prolific West Delta basin. The work program includes drilling one firm exploration well.

“TotalEnergies is honored to be the first international company to be awarded exploration licenses in a bid round in Nigeria in more than a decade, marking a new milestone in our long-term partnership with the country,” said Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies.

“These promising block captures are fully aligned with our strategy of strengthening our Exploration portfolio with drill-ready and high impact prospects, that have the potential for low-cost and low-emissions developments from new discoveries in our core areas of expertise.”