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Highlights

  • Nzombo permit spans 1,000 sq. km, located 100 km off Pointe-Noire’s coast.
  • TotalEnergies holds 50% stake, with QatarEnergy and SNPC as joint partners.
  • First exploration well scheduled for drilling by the end of 2025.

TotalEnergies SE (NYSE: TTE) has been awarded the Nzombo exploration permit in the Republic of the Congo, marking an expansion of its exploration portfolio in West Africa. The permit spans 1,000 square kilometers and is located approximately 100 kilometers offshore Pointe-Noire, in proximity to the company’s existing Moho production facilities.

Under the terms of the agreement, TotalEnergies will operate the permit with a 50% participating interest. Partners QatarEnergy and Société Nationale des Pétroles du Congo (SNPC) hold 35% and 15% stakes, respectively. The consortium plans to drill its first exploration well on the block by the end of 2025, targeting prospective resources identified through seismic interpretation.

The permit’s location near the Moho facilities is expected to create potential operational synergies and could allow for quicker development if commercial discoveries are made. The company stated that the exploration program will initially focus on a single well to test the prospectivity of the block.

While the partnership with QatarEnergy and SNPC helps share exploration risk and capital requirements, the project remains subject to the inherent uncertainties of offshore exploration. TotalEnergies highlighted that the success of the Nzombo program will depend on the outcome of the first well, which will guide subsequent appraisal and development decisions.

In a statement, TotalEnergies’ management emphasized that the Nzombo permit supports the company’s long-term strategy of focusing on advantaged oil and gas assets near existing infrastructure. The company said the program aims to create value through cost-effective tie-back opportunities in the event of a discovery.

The planned capital investment for the exploration phase is expected to be significant, reflecting the technical complexity of offshore drilling. Market observers will be monitoring the progress of the Nzombo well and any updates on drilling timelines and results throughout 2025.

The award of the Nzombo permit further reinforces the Republic of the Congo’s role as a key contributor to TotalEnergies’ regional portfolio, complementing its existing operations in the Moho Nord field and other offshore assets.