TotalEnergies Secures Offshore Exploration License in São Tomé & Príncipe

TotalEnergies has taken a significant stride toward expanding its exploration footprint by securing a 60% stake and operatorship in Block STP02, located offshore São Tomé and Príncipe. This agreement, brokered with the Agência Nacional do Petróleo de São Tomé e Príncipe (ANP-STP), involves the retention of 30% by Sonangol and 10% by ANP-STP, pending final approvals from regulatory bodies.

Situated in an emerging basin approximately 60 kilometers off the coast of Príncipe, Block STP02 spans an extensive area of 4,969 square kilometers. It strategically adjoins Block STP01, where TotalEnergies currently holds a 55% interest, partnered with Sonangol (30%) and ANP-STP (15%). This geographic proximity enhances TotalEnergies' exploration strategy in the region.

Kevin McLachlan, Senior Vice-President Exploration at TotalEnergies, emphasized the promising prospects observed through 3D seismic data analysis of neighboring Block STP01. "Based on the encouraging results from the 3D seismic data of adjacent Block STP01, TotalEnergies is advancing its exploration efforts in São Tomé and Príncipe by securing this promising license, thereby diversifying the company's portfolio," McLachlan stated.

The decision to acquire Block STP02 underscores TotalEnergies' commitment to leveraging its expertise and resources in exploring São Tomé and Príncipe's offshore potential. By assuming operatorship and majority ownership, TotalEnergies aims to capitalize on the region's untapped energy resources while adhering to stringent environmental standards and regulatory requirements.

In recent years, São Tomé and Príncipe has emerged as a focal point for energy exploration due to its strategic location and promising geological characteristics. TotalEnergies' strategic move to acquire Block STP02 aligns with its overarching goal of sustainable energy development and responsible resource management.

Upon completion of the transaction and receipt of necessary approvals, TotalEnergies will embark on a comprehensive exploration program aimed at assessing the full potential of Block STP02. Collaborating closely with existing partners and local authorities, TotalEnergies intends to foster mutual growth and development while contributing positively to the socio-economic landscape of São Tomé and Príncipe.

Looking forward, TotalEnergies remains steadfast in its commitment to ethical business practices and environmental stewardship. The acquisition of Block STP02 not only signifies a strategic investment but also reaffirms TotalEnergies' role as a responsible global energy player dedicated to sustainable growth and community engagement in São Tomé and Príncipe.

TotalEnergies is a leading global energy company engaged in the production and distribution of oil, biofuels, natural gas, green gases, renewables, and electricity. With a dedicated workforce exceeding 100,000 employees, we strive to deliver reliable, affordable, and sustainable energy solutions to communities worldwide. Operating in approximately 120 countries, TotalEnergies prioritizes sustainability across its strategy, projects, and operational initiatives.