Trident Energy Enters Congolese Oil and Gas Industry with Chevron, TotalEnergies Offshore Acquisitions
04.25.2024 By Tank Terminals - NEWS

April 25, 2024 [World Oil]- Trident Energy has signed an agreement with Chevron Corporation to acquire the entire issued share capital of Chevron Overseas (Congo) Limited, which holds a 31.5% non-operated working interest in the Moho-Bilondo, Nkossa, Nsoko II fields, and a 15.75% operated interest in the Lianzi field.

 

In addition, Trident Energy has signed multiple agreements to simultaneously acquire an additional 53.5% working interest in the Nkossa and Nsoko II fields from TotalEnergies and divest a 10% working interest in the Moho-Bilondo field to the company. Upon completion of the transactions, Trident Energy will hold an 85% working interest in the Nkossa and Nsoko II fields, a 15.75% working interest in the Lianzi field, and will take over the operation of these fields. Trident Energy will also retain a 21.5% working interest in the Moho–Bilondo field, operated by TotalEnergies.

According to TotalEnergies, Moho is a deep-offshore field 80 km offshore Pointe Noire and operated by TotalEnergies EP Congo. Production increased significantly in 2017 with the startup of the Moho Nord project. Production facilities include two Floating Production Units (FPU), Alima and Likouf, combining for a current output of around 100,000 boed (100%).

Nkossa and Nsoko II are two offshore fields located 70 km off the coast. Starting respectively in 1996 and 2006, they are mature oil fields currently producing a combined 15,000 boed (100%).

Jean-Michel Jacoulot, Chief Executive of Trident Energy ML said, “They are delighted to announce the signing of these transactions and enter the Republic of Congo. They look forward to working with their new partners, SNPC and the Congolese Government. This deal represents an exciting new chapter in Trident Energy’s growth story and strengthens their presence and capabilities in Africa. The transaction aligns with our strategy to acquire and operate high quality assets in a safe, efficient and responsible manner.

Building on our continued successes in Equatorial Guinea and Brazil, they are excited to unlock further value and create opportunities for their partners in the Republic of Congo, host communities and all our stakeholders.“

 

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