TotalEnergies and Chevron Form Offshore Exploration Joint Venture in Nigeria
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TotalEnergies SE has formed a joint venture with Chevron for offshore exploration in Nigeria. TotalEnergies EP Nigeria has signed a farmout agreement to sell a 40% stake in the PPL 2000 and PPL 2001 exploration licenses to Chevron's Star Deep Water Petroleum Limited. TotalEnergies will continue as the operator with a 40% stake, while Chevron will hold 40% and South Atlantic Petroleum will retain 20%. The partnership aims to explore new resources in Nigeria, pending regulatory approvals.
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