TotalEnergies has entered a farm-out agreement to transfer a 40 percent interest in two offshore exploration licences, PPL 2000 and PPL 2001, to Chevron’s Star Deep Water Petroleum Limited. The agreement forms part of ongoing partnerships aimed at expanding activity in Nigeria’s deepwater sector.
The two blocs lie in the West Delta basin and were awarded to TotalEnergies following the 2024 Exploration Round. Together, they cover an estimated 2,000 square kilometres in a frontier area considered prospective for new hydrocarbon discoveries.
Industry officials note that the transfer will allow both companies to pool technical and financial resources as activities move toward seismic acquisition and early-stage appraisal work. The farm-out is subject to regulatory approval from the Nigerian Upstream Petroleum Regulatory Commission.
The move signals renewed interest in Nigeria’s offshore terrain, where joint ventures and strategic partnerships continue to shape the pace of exploration and development.
