Chevron picks up 40% in TotalEnergies’ Nigeria offshore licenses

TotalEnergies signed a farm-out agreement with Star Deep Water, a Chevron company, for 40% participation in the PPL 2000 and PPL 2001 exploration licenses, offshore Nigeria. TotalEnergies will remain operator with a 40% participation alongside Chevron (40%) and South Atlantic Petroleum (20%).

Located in the prolific West Delta basin, the PPL 2000 & 2001 licenses cover an area of approximately 2,000 sq km 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.