TotalEnergies Awarded Two Offshore Exploration Permits in Nigeria
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 in the prolific West Delta Bassin. The fields fit well with our exploration strategy of strengthening our exploration portfolio with drill-ready, high-impact prospects that have the potential for low cost and low emissions developments from new discoveries in our core areas of expertise.
Furthermore, the exploration block capture is fully aligned with our strategy of strengthening our exploration portfolio through high-potential acreage in our core areas of expertise, such as deep offshore, where we have already demonstrated success in Nigeria with the development of the Egina and Akpo fields.
On the business side, this bid round and attribution to an IOC, the first of its kind in more than 10 years shows that Nigeria, under the leadership of President Tinubu, is ready to welcome investors. We thank the regulator (NUPRC) and the Nigerian government for setting the right conditions for such bid round to happen.
By accessing these two exploration blocks alongside our long-standing partner Sapetro and with NNPCL as concessionaire, TotalEnergies is demonstrating its commitment to keep exploring deep offshore Nigeria and further affirms our long-term commitment to Nigeria.
The successful development of these new blocks will help to maintain Nigeria’s oil production while bringing new resources. It will also contribute to the creation of new jobs for Nigerians while empowering local contractors towards the sustainable development of the energy sector in Nigeria.
For about a decade now, TotalEnergies has been the largest private energy investor in the country with the development of large projects such as Egina, Ofon Ph2, OML58 Upgrade, Ikike.
TotalEnergies continues to maintain its presence in Nigeria, contributing to the nation's sustainable socio-economic development over the long term.
Read more: Nigeria: TotalEnergies is Awarded Two Offshore Exploration Permits | TotalEnergies.com
