Republic of Congo: TotalEnergies Increases Its Interest in Giant Field Moho and Divests Two Mature Assets [Yahoo! Finance]
TotalEnergies SE (TTE)
Company Research
Source: Yahoo! Finance
Congo, has signed an agreement with Trident Energy combining the acquisition of an additional 10% interest in the Moho license from Trident Energy and the sale to Trident Energy of its 53.5% interest in the Nkossa and Nsoko II licenses. Moho is a deep-offshore field located 80 kilometers off the coast of Pointe Noire and operated by TotalEnergies EP Congo. Production increased significantly in 2017 with the startup of the Moho Nord project. Production facilities include two Floating Production Units (FPU), Alima and Likouf , combining for a current output of around 100 kboe/d (100%). Nkossa and Nsoko II are two offshore fields located 70 kilometers off the coast. Starting respectively in 1996 and 2006, they are mature oil fields currently producing a combined 15 kboe/d (100%). After completion of these transactions, which are subject to customary conditions precedent, in particular regulatory approvals, and to the completion of Trident Energy's acquisition of Chevron Congo, Tota
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