Republic of Congo grants TotalEnergies exploration permit
TotalEnergies said it will operate the asset with a 50% stake, while QatarEnergy will hold a 35% interest and Congo's national oil company SNPC the remainder.
The permit is for a 1,000km² area located 100km off the coast of Pointe Noire, and would add to a portfolio of "high-impact prospects", said Kevin McLachlan, TotalEnergies' senior vice-president for exploration.
The work programme includes the drilling of one exploration well, which is expected to begin before the end of 2025, the company said.
TotalEnergies currently produces 65,000 barrels of oil per day in the Republic of Congo, mostly through offshore wells.
SNPC also owns 15% of the Moho production facilities, according to TotalEnergies' website.
Source: Reuters
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