⚡ TotalEnergies Secures Two Offshore Exploration Permits in Nigeria
The Big News
TotalEnergies has signed a Production Sharing Contract (PSC) with its partner South Atlantic Petroleum (SAPETRO) for two offshore exploration licenses — PPL 2000 and PPL 2001.
• Ownership structure:
• TotalEnergies → 80% stake
• SAPETRO → 20% stake
• Location: Offshore West Delta Basin
• Size: About 2,000 square kilometers
• Work Programme: Drilling of one firm exploration well as part of the initial commitment.
How They Got It
These licenses were awarded after the 2024 Nigerian Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
This marks the first time in over a decade that an international oil company has been awarded exploration licenses through a bid round in Nigeria.
Why It Matters
According to Kevin McLachlan, Senior Vice-President, Exploration at TotalEnergies:
• This award is a milestone in the company’s long-standing partnership with Nigeria.
• The blocks align with TotalEnergies’ global strategy of focusing on “drill-ready and high-impact prospects”.
• The aim is to develop low-cost and low-emission projects if discoveries are made. ⚡
Wider Industry Context
• Nigeria has been pushing to attract more investment into its oil and gas sector, especially after years of under-investment.
• The move signals renewed international confidence in Nigeria’s upstream petroleum sector.
• For Nigeria, new exploration activity in the prolific West Delta Basin could lead to higher production volumes and government revenues in the future.
✨ Bottom Line
TotalEnergies’ award of PPL 2000 & 2001 represents a new wave of foreign investment into Nigeria’s energy sector. With SAPETRO as partner, this project could unlock fresh reserves, new revenue, and cleaner energy development for the country.
The Big News
TotalEnergies has signed a Production Sharing Contract (PSC) with its partner South Atlantic Petroleum (SAPETRO) for two offshore exploration licenses — PPL 2000 and PPL 2001.
• Ownership structure:
• TotalEnergies → 80% stake
• SAPETRO → 20% stake
• Location: Offshore West Delta Basin
• Size: About 2,000 square kilometers
• Work Programme: Drilling of one firm exploration well as part of the initial commitment.
How They Got It
These licenses were awarded after the 2024 Nigerian Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
This marks the first time in over a decade that an international oil company has been awarded exploration licenses through a bid round in Nigeria.
Why It Matters
According to Kevin McLachlan, Senior Vice-President, Exploration at TotalEnergies:
• This award is a milestone in the company’s long-standing partnership with Nigeria.
• The blocks align with TotalEnergies’ global strategy of focusing on “drill-ready and high-impact prospects”.
• The aim is to develop low-cost and low-emission projects if discoveries are made. ⚡
Wider Industry Context
• Nigeria has been pushing to attract more investment into its oil and gas sector, especially after years of under-investment.
• The move signals renewed international confidence in Nigeria’s upstream petroleum sector.
• For Nigeria, new exploration activity in the prolific West Delta Basin could lead to higher production volumes and government revenues in the future.
✨ Bottom Line
TotalEnergies’ award of PPL 2000 & 2001 represents a new wave of foreign investment into Nigeria’s energy sector. With SAPETRO as partner, this project could unlock fresh reserves, new revenue, and cleaner energy development for the country.