TotalEnergies signed an agreement to acquire a 60% interest and operatorship in Block STP02, offshore Sao Tome and Principe, Africa, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP).
Block STP02 is within an emerging basin 60 km off the coast of Principe and covers an area of 4,969 sq km. The block is adjacent to Block STP01 operated by TotalEnergies (55%) alongside Sonangol (30%) and ANP-STP (15%).
The remaining interest will be held by the existing license holders, Sonangol (30%) and ANP-STP (10%). The transaction is subject to final approvals from relevant authorities.