TotalEnergies SE has signed manufacturing sharing contracts (PSCs) for 4 adjoining exploration blocks spanning about 12,700 sq. kilometers (4,903.49 sq. miles) in Liberian waters.
LB-6, LB-11, LB-17 and LB-29, awarded below Liberia’s 2024 Direct Negotiation Licensing Spherical, mark the primary upstream hydrocarbon agreements signed by the West African nation in over a decade, in line with the Liberian Petroleum Regulatory Authority (LPRA).
“The work program consists of buying one agency 3D seismic survey”, the French international vitality big mentioned in a press release on its web site.
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“TotalEnergies is enthusiastic to be a part of the resumption of exploration actions in offshore Liberia”, commented Kevin McLachlan, senior vp for exploration at TotalEnergies. “Getting into these blocks aligns with our technique of diversifying our exploration portfolio in high-potential new oil-prone basins.
“These areas maintain vital potential for prospects which have the potential for large-scale discoveries that result in cost-effective, low-emission developments, leveraging the corporate’s confirmed experience in deepwater operations”.
The LPRA mentioned in a separate assertion on-line, “The signing of the PSCs represents some of the vital overseas investments in Liberia’s oil and fuel sector in additional than a decade”.
“As one of many world’s largest built-in vitality corporations, with a confirmed monitor file in deepwater exploration throughout Africa and globally, TotalEnergies’ entry into Liberia alerts renewed worldwide confidence within the nation’s hydrocarbon potential”, the LPRA added.
LPRA director-general Marilyn T. Logan mentioned the contract signing in Paris “stands as a vote of confidence within the reforms we have now undertaken to draw accountable operators”.
The LPRA added, “The contracts incorporate environmental and social safeguards, clear income administration provisions and strong native content material necessities, making certain Liberians profit immediately from sector development”.
Earlier this month TotalEnergies introduced new offshore exploration licenses in two different African nations: two in Nigeria and one within the Republic of the Congo.
The Nzombo exploration license sits 100 kilometers (62.14 miles) off the coast of Pointe-Noire, close to the Moho manufacturing amenities operated by TotalEnergies EP Congo. The block spans 1,000 sq. kilometers (386.1 sq. miles), in line with TotalEnergies.
“The work program consists of the drilling of 1 exploration properly, which is anticipated to spud earlier than the top of 2025”, TotalEnergies mentioned September 1.
“This award of a promising exploration allow, with the fabric Nzombo prospect, displays our continued technique of increasing our exploration portfolio with high-impact prospects, which might be developed leveraging our current amenities, and confirms our longstanding partnership with the Republic of the Congo”, mentioned McLachlan.
TotalEnergies is operator with a 50 p.c stake. QatarEnergy and nationwide oil firm SNPC personal 35 p.c and 15 p.c respectively.
In Nigeria, TotalEnergies and native participant South Atlantic Petroleum Ltd (SAPETRO) signed a PSC containing PPLs 2000 and 2001, TotalEnergies mentioned September 2. The West African nation awarded the permits below its 2024 exploration bidding. TotalEnergies is operator with an 80 p.c stake whereas SAPETRO owns 20 p.c.
Situated within the “prolific” West Delta basin, the 2 permits cowl about 2,000 sq. kilometers, TotalEnergies mentioned.
“The work program consists of drilling one agency exploration properly”, it mentioned.
“TotalEnergies is honored to be the primary worldwide firm to be awarded exploration licenses in a bid spherical in Nigeria in additional than a decade, marking a brand new milestone in our long-term partnership with the nation”, mentioned McLachlan.
To contact the writer, electronic mail jov.onsat@rigzone.com
