Sao Tome & Principe: TotalEnergies Acquires An Offshore Exploration License

TotalEnergies said Wednesday it has signed an agreement to acquire a 60% interest and operatorship in Block STP02, offshore Sao Tome and Principe, from the Agência Nacional do Petroléo de S. Tomé e Principé (ANP-STP).

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.

Located within an emerging basin, 60;km off the coast of Principe, Block;STP02 covers an area of;4,969;km². Block;STP02 is adjacent to the Block;STP01 license operated by TotalEnergies;(55%) alongside Sonangol;(30%) and;ANP-STP;(15%).

“Following the encouraging prospectivity interpreted on the 3D seismic data on adjacent Block STP01, TotalEnergies continues to progress its exploration effort in Sao Tome and Principe, by entering this promising license, thereby maintaining the optionality of the Company's portfolio”, said Kevin McLachlan, Senior Vice-President Exploration of TotalEnergies.