TotalEnergies, a renowned French energy conglomerate, has embarked on a significant production endeavor in Nigeria, commencing operations at an offshore field linked to an existing floating production, storage, and offloading (FPSO) vessel. This strategic initiative, boasting an anticipated carbon intensity of below 5 kg CO2e/boe, signifies a pivotal stride towards reducing the overall carbon footprint of TotalEnergies' expansive portfolio.

The inception of this ambitious project unfolded with the initiation of a drilling campaign for the Akpo West field in November 2023. Collaborating with Noble Corporation's Gerry de Souza drillship, TotalEnergies initiated the drilling of three wells, comprising two water injectors and one production well. Situated within the confines of the PML2 license, formerly recognized as OML 130, off the shores of Nigeria, this field shares proximity with the renowned Akpo field. Although the commencement of production from these wells was initially slated for conclusion by the culmination of 2023, TotalEnergies and its consortium partners opted to withhold the official announcement until February 7, 2024. Leveraging the pre-existing infrastructure of the Akpo facility, the Akpo West development endeavors to streamline operational costs and mitigate greenhouse gas emissions.

In terms of operational stewardship, TotalEnergies presides over the operatorship of PML2, boasting a significant 24% interest. This ownership structure is complemented by a consortium comprising CNOOC (45%), Sapetro (15%), Prime 130 (16%), and the Nigerian National Petroleum Company, assuming the role of the concessionaire for the Production Sharing Contract (PSC).

The advent of the Akpo West project marks yet another milestone for TotalEnergies in Nigeria's energy landscape, following the successful execution of the Ikike project in 2022. Positioned as a tie-back initiative, Akpo West is strategically crafted to uphold and sustain production levels at the established Akpo facilities, effectively harnessing the potential of nearby resources. In alignment with TotalEnergies' overarching strategy of championing low-cost and low-emission projects, the Akpo West venture capitalizes on the company's formidable presence in Nigeria. Beyond mere operational objectives, this endeavor holds the promise of fostering rapid value generation for the host country, TotalEnergies, and its consortium partners alike.

TotalEnergies' foray into Nigeria's energy sector represents not only a significant investment in the country's economic development but also a commitment to advancing sustainable energy practices. By leveraging existing infrastructure and innovative drilling techniques, TotalEnergies aims to maximize production efficiency while minimizing environmental impact. The company's dedication to reducing carbon intensity underscores its proactive approach to addressing climate change challenges, aligning with global efforts to transition towards cleaner energy sources.

Furthermore, TotalEnergies' partnership with local and international stakeholders demonstrates its commitment to fostering mutually beneficial relationships and driving socio-economic growth in Nigeria. Through collaborative initiatives and community engagement programs, TotalEnergies seeks to create opportunities for local businesses and enhance the livelihoods of surrounding communities. By prioritizing sustainability and social responsibility, TotalEnergies aims to leave a positive legacy in Nigeria and contribute to the country's long-term prosperity.