Sep. 12 at 7:32 AM
TotalEnergies Expands Presence in Nigeria with New Offshore Licenses
On September 2, TotalEnergies, together with South Atlantic Petroleum, signed a production sharing contract for two new offshore exploration licenses in Nigeria.
The agreement covers approximately 2,000 km² in the Western Delta Basin. TotalEnergies will hold and operate 80% of the blocks, while the remaining 20% will be held by South Atlantic Petroleum.
Nigeria has been a key market for the French company for over 60 years, currently contributing about 209,000 barrels of oil equivalent per day. The new blocks offer “drill-ready” and high-impact prospects, further strengthening the country’s strategic role in TTE’s global portfolio.
This move confirms TotalEnergies’ commitment to maintaining a strong position in traditional hydrocarbons, ensuring stable cash flows while continuing to invest in renewables and electricity.
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