TotalEnergies, Trident Energy shuffle offshore Congo assets

TotalEnergies EP Congo signed an agreement to acquire an additional 10% stake in the Moho permit 80 km off the coast of Pointe-Noire, Republic of Congo, from Trident Energy and to sell a 53.5% stake in the Nkossa and Nsoko II permits 70 km off the coast to Trident Energy.

Moho is a deepwater offshore field operated by TotalEnergies EP Congo. Production increased significantly in 2017 with the start-up of the Moho Nord project. Production infrastructure includes include floating production units (FPUs) Alima and Likouf which produce about 100,000 boe/d.

Nkossa and Nsoko II are mature offshore fields which started up in 1996 and 2006, respectively, and produce about 15,000 boe/d.

Upon completion of these transactions, subject to conditions and regulatory approval, TotalEnergies EP Congo will hold 63.5% operating stake in the Moho permit with partners Trident Energy (21.5%) and Société Nationale des Pétroles du Congo (SNPC, 15%).

Trident Energy signed an agreement with Chevron Corp. to acquire the entire issued share capital of Chevron Overseas (Congo) Ltd. which holds a 31.5% non-operated working interest in Moho-Bilondo, Nkossa, and Nsoko II fields, and a 15.75% operated interest in Lianzi field. As a result, Trident Energy will be operator in the Nkossa and Nsoko II permits (85%) with SNPC holding the remaining 15%. Trident will operate Lianzi field.