Further to an ongoing discussion of global exploration opportunities between TotalEnergies and Chevron, TotalEnergies EP Nigeria has signed a farmout agreement with Star Deep Water Petroleum Limited, a Chevron company, to sell a 40% participation in the PPL 2000 and PPL 2001 exploration licences offshore Nigeria. 

Located in Nigeria’s prolific West Delta basin, the PPL 2000 and 2001 licences cover an area of approximately 2 000 square kilometres and were awarded to a consortium of TotalEnergies and South Atlantic Petroleum following the 2024 Exploration Round organised by the Nigerian Upstream Petroleum Regulatory Commission. 

TotalEnergies will remain the operator with a 40% participation alongside Chevron (40%) and South Atlantic Petroleum (20%). 

This new joint venture reinforces TotalEnergies’ global offshore exploration collaboration with Chevron, following the June acquisition of a 25% working interest in a portfolio of exploration leases offshore the U.S. comprising 40 Chevron-operated blocks. 

“After launching our joint venture in US offshore exploration in June, we’re delighted to expand our collaboration to Nigeria now to unlock new resources in the West Delta basin,” said Nicola Mavilla, senior vice president for exploration at TotalEnergies. 

“This new joint venture aims at derisking and developing new opportunities in Nigeria, in line with the objectives of the country.” 

Completion of the farmout transaction with Chevron is subject to customary conditions, including regulatory approvals. 

TotalEnergies has been present in Nigeria for more than 60 years and employs today more than 1 800 people across different business segments. Nigeria is one of the main contributing countries to TotalEnergies’ hydrocarbon production, with 209 000 Barrels of Oil Equivalent per Day (boe/d) produced in 2024. TotalEnergies also operates an extensive distribution network, which includes about 540 service stations in Nigeria.