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.
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