Trident Power has introduced the completion of a set of transactions involving the acquisition of Chevron Abroad (Congo) Ltd. and a swap with TotalEnergies SE protecting a number of fields within the Republic of the Congo.
With the sale of its native subsidiary, United States vitality large Chevron Corp. transferred its 31.5 % non-operating stakes within the Moho-Bilondo block and the Nkossa and Nsoko II fields, in addition to a 15.75 % working stake within the Lianzi discipline, to London-based Trident Power.
Trident Power additionally obtained TotalEnergies’ working 53.5 % stakes in Nkossa and Nsoko II, elevating its possession within the two fields to 85 %. State-owned Societe Nationale des Petroles du Congo (SNPC) has the remaining 15 %.
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In change the French vitality main acquired an extra 10 % stake within the Moho-Bilondo block, which consists of the Moho-Bilondo discipline and the Moho Nord discipline. Operator TotalEnergies now holds a 63.5 % stake within the license. Trident Power has 21.5 %. SNPC owns the remaining 15 %.
Trident Power expects the brand new acquisitions so as to add about 30,000 barrels of oil per day (bopd) to its manufacturing.
Within the Moho-Bilondo block, Moho Nord is producing with a capability of 140,000 bopd, in response to info on TotalEnergies’ web site.
In the meantime the mature fields Nkossa and Nsoko II, situated 70 kilometers (43.5 miles) off the coast, have a mixed common output of 15,000 barrels of oil equal a day, in response to TotalEnergies.
The transactions are “vital” for Trident Power, “which has confirmed experience in extending discipline life and unlocking manufacturing from mid-life property as demonstrated by their takeovers in Brazil and Equatorial Guinea”, Trident Power stated in a web-based assertion saying completion.
Trident Power chief govt Jean-Michel Jacoulot stated, “We sit up for working with TotalEnergies Congo, the SNPC and the Congolese authorities to generate additional worth to the property”.
In TotalEnergies’ announcement of its aspect of the transactions April 24, 2024, senior vp for exploration and manufacturing in Africa Mike Sangster stated, “With these transactions, TotalEnergies continues to dynamically handle its portfolio”.
“In step with our technique, we deal with low-cost, low-emission property, and leverage our deep offshore experience”, Sangster stated then.
“As a long-term associate of the Republic of Congo, TotalEnergies stays totally dedicated to the nation by way of our elevated stake and operatorship in Moho discipline, and is getting ready for the drilling of an exploration properly on the Marine XX license earlier than summer season 2024”.
To contact the writer, electronic mail jov.onsat@rigzone.com
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