TotalEnergies and its partners, QatarEnergy and Congo's state oil company SNPC, have secured rights to explore an offshore block in the Republic of the Congo.
Under a production-sharing contract with the Congolese government, TotalEnergies' Congo affiliate will operate the block with a 50% stake, French and Qatari oil majors said in two separate statements.
QatarEnergy will hold 35% and Société Nationale des Pétroles du Congo (SNPC) will hold the remaining 15%, it added.
The 1,000-square-kilometer permit is located about 100 kilometers off the coast of Pointe-Noire, near the Moho production facilities operated by TotalEnergies EP Congo. The partners plan to drill one exploration well before the end of 2025.
Qatar's energy minister and QatarEnergy CEO Saad Sherida Al Kaabi said: "We are pleased to be awarded this promising offshore block in the Republic of Congo, and to work alongside our valued partners and the Congolese Government."
Kevin McLachlan, TotalEnergies' senior vice president for exploration, said the permit aligns with the company's strategy to expand its portfolio with high-impact prospects that can be developed using existing facilities, underscoring its partnership with Congo.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr