TotalEnergies Expands Chevron Partnership With Nigeria Offshore Deal

TotalEnergies SE (TTE) is expanding its global exploration partnership with Chevron, signing a farmout deal that hands the U.S. major a 40% stake in two offshore Nigeria licenses—PPL 2000 and PPL 2001—while retaining operatorship. The licenses, covering roughly 2,000 square kilometers in the West Delta basin, were awarded in Nigeria’s 2024 Exploration Round to a consortium comprising TotalEnergies and South Atlantic Petroleum. Under the new structure, TotalEnergies and Chevron will each hold 40%, with Sou ...