TotalEnergies Expands Offshore Presence in São Tomé and Príncipe with Block STP02 Acquisition

TotalEnergies Expands Offshore Presence in São Tomé and Príncipe with Block STP02 Acquisition

(IN BRIEF) TotalEnergies has entered into an agreement to acquire a 60% stake and operatorship in Block STP02 offshore São Tomé and Príncipe from the country’s national petroleum agency, ANP-STP. The remaining interests will be held by Sonangol (30%) and ANP-STP (10%). Block STP02 spans 4,969 km2 and is situated in an emerging basin, adjacent to TotalEnergies’ existing Block STP01 license. The acquisition aims to capitalize on promising exploration prospects identified through 3D seismic data in the region.

(PRESS RELEASE) PARIS, 27-Jun-2024 — /EuropaWire/ — TotalEnergies has expanded its presence in the offshore energy sector of São Tomé and Príncipe by securing a 60% stake and operatorship in Block STP02, as part of a deal with the Agência Nacional do Petroléo de S. Tomé e Príncipe (ANP-STP). The agreement also includes the transfer of operational responsibilities, with the deal pending final approvals from the appropriate authorities.

Block STP02, which spans an area of 4,969 km², is located about 60 km off the coast of Príncipe and lies in an emerging basin that has shown encouraging signs from recent seismic data. This block is strategically positioned next to Block STP01, where TotalEnergies also holds a 55% stake and shares interest with Sonangol (30%) and ANP-STP (15%).

Kevin McLachlan, Senior Vice-President of Exploration at TotalEnergies, expressed optimism about the prospects of Block STP02. He noted that the positive data from the adjacent Block STP01 supports the company’s decision to increase its investment and exploration efforts in the region. TotalEnergies aims to enhance its exploration portfolio and sustain its operational momentum in São Tomé and Príncipe through this strategic acquisition. The remaining interests in Block STP02 will be held by Sonangol with 30% and ANP-STP with 10%.

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TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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