TotalEnergies to sell Chevron 40% participation in offshore exploration licenses

TotalEnergies (TTE) EP Nigeria has signed a farmout agreement to sell to Star Deep Water Petroleum, a Chevron (CVX) company, a 40% participation in the PPL 2000 and PPL 2001 exploration licenses, offshore Nigeria. Located in the West Delta basin, the PPL 2000 & 2001 licenses are covering an area of approximately 2,000 square kilometers and were awarded to a consortium of TotalEnergies and South Atlantic Petroleum following the 2024 Exploration Round organized by the Nigerian Upstream Petroleum Regulatory Commission. TotalEnergies will remain operator with a 40% participation alongside Chevron and South Atlantic Petroleum.