TotalEnergies EP Nigeria has entered into a farmout agreement to sell a 40% participation in the PPL 2000 and PPL 2001 exploration licenses, located offshore Nigeria, to Star Deep Water Petroleum Limited, a Chevron company. The two blocks are situated in the West Delta basin and cover about 2,000 square kilometers. These licenses were awarded to a consortium consisting of TotalEnergies and South Atlantic Petroleum during the 2024 Exploration Round conducted by the Nigerian Upstream Petroleum Regulatory Commission.
Under this new arrangement, TotalEnergies will remain as operator with a 40% stake, while Chevron will hold another 40%, and South Atlantic Petroleum will have the remaining 20%. This collaboration builds on an earlier partnership established in June when TotalEnergies acquired a working interest in Chevron-operated offshore blocks.
“After launching our joint venture in US offshore exploration in June, we’re delighted to now expand our collaboration to Nigeria to unlock new resources in the West Delta basin,” said Nicola Mavilla, Senior Vice-President Exploration at TotalEnergies. “This new joint venture aims at derisking and developing new opportunities in Nigeria, in line with the objectives of the country.”
The completion of this transaction is subject to standard conditions such as regulatory approvals.
TotalEnergies has operated in Nigeria for over six decades and currently employs more than 1,800 people across several business areas. In 2024, Nigeria contributed significantly to TotalEnergies’ hydrocarbon production with an output of approximately 209,000 barrels of oil equivalent per day. The company also runs around 540 service stations throughout the country and engages with local communities on socio-economic development initiatives.
TotalEnergies is an integrated energy company active globally across oil, biofuels, natural gas, renewables, biogas, low-carbon hydrogen, and electricity sectors. With over 100,000 employees operating in about 120 countries worldwide, it places sustainability at the center of its operations.
Completion of the farmout deal awaits regulatory review and approval.
