TotalEnergies will assume operatorship and a majority stake in the license for Block STP02 offshore Africa. (Source: Shutterstock)
TotalEnergies has acquired a license for the operatorship and 60% interest in Block STP02 offshore São Tomé and Príncipe, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP), the company announced June 26.
Located 37 miles off the coast of Príncipe, Block STP02 covers an area of approximately 5,000 sq km. Block STP02 is adjacent to the TotalEnergies-operated Block STP01 license.
The remaining interest in Block STP02 is held by the existing license holders: Sonangol with a 30% stake in the field and ANP-STP with a 10% stake.
“Following the encouraging prospectivity interpreted on the 3D seismic data on adjacent Block STP01, TotalEnergies continues to progress its exploration effort in Sao Tome and Principe, by entering this promising license, thereby maintaining the optionality of the company's portfolio,” said Kevin McLachlan, senior vice president of exploration for TotalEnergies.
The transaction is subject to final approvals from relevant authorities.
Recommended Reading
Shell Adds Two Members to Executive Committee
2025-01-23 - Shell has named Andrew Smith and Machteld de Haan as members of its executive committee, effective April. 1.
Exxon Slips After Flagging Weak 4Q Earnings on Refining Squeeze
2025-01-08 - Exxon Mobil shares fell nearly 2% in early trading on Jan. 8 after the top U.S. oil producer warned of a decline in refining profits in the fourth quarter and weak returns across its operations.
Phillips 66’s NGL Focus, Midstream Acquisitions Pay Off in 2024
2025-02-04 - Phillips 66 reported record volumes for 2024 as it advances a wellhead-to-market strategy within its midstream business.
Utica Liftoff: Infinity Natural Resources’ Shares Jump 10% in IPO
2025-01-31 - Infinity Natural Resources CEO Zack Arnold told Hart Energy the newly IPO’ed company will stick with Ohio oil, Marcellus Shale gas.
Utica Oil’s Infinity IPO Values its Play at $48,000 per Boe/d
2025-01-30 - Private-equity-backed Infinity Natural Resources’ IPO pricing on Jan. 30 gives a first look into market valuation for Ohio’s new tight-oil Utica play. Public trading is to begin the morning of Jan. 31.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.