(Agence Ecofin) – Since the start of the year, TotalEnergies has strengthened its positions in Africa thanks in particular to exploration rights obtained in the offshore of South Africa, among others.
French hydrocarbon producer TotalEnergies has obtained rights to explore for oil and gas in São Tomé and Príncipe, particularly in block STP02, a 4,969 km² area located approximately 60 km off the coast of country.
According to details communicated on Wednesday June 26 by the oil multinational, this development comes following an agreement concluded with the Agência Nacional do Petróleo de São Tomé e Principe (ANP-STP), the regulator of the local oil industry.
In accordance with this deal, which remains subject to regulatory approvals, TotalEnergies will operate the site with a 60% stake, while Sonangol, Angola’s state-owned oil company and ANP-STP will hold 30% and 10% of the remaining shares, respectively. .
Note that obtaining these rights allows the French oil group to expand its operational footprint in São Tomé and Príncipe where it previously held 55% in block STP01, alongside Sonangol (30%) and ANP- STP (15%).
According to Kevin McLachlan, director of the exploration division of TotalEnergies, the company has positioned itself on a prospecting area deemed to have high potential on the basis of “the encouraging interpretation of 3D seismic data from the adjacent block STP01”.
Abdel-Latif Boureima
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03/06/2024 – South Africa: TotalEnergies obtains rights to explore offshore block 3B/4B
