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Nigeria signs deepwater oil contract with TotalEnergies - REUTERS
ABUJA, (Reuters) – Nigeria has signed a production-sharing contract with TotalEnergies and its local partner South Atlantic Petroleum (Sapetro) for two offshore blocks awarded during the 2024 licensing round, the country’s upstream oil regulator said on Monday.
The deal covers Petroleum Prospecting Licences 2000 and 2001, and spans about 2,000 square km (772 square miles) in the Niger Delta Basin. TotalEnergies holds an 80% contractor interest, while Sapetro holds 20%.
“This PSC signals the start of a committed work programme that will help us unlock the untapped geological potential of our deepwater, expand our reserves, boost production, and strengthen Nigeria’s energy security,” said Gbenga Komolafe, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission.
(Additional reporting by Isaac Anyaogu in Lagos Writing by Chijioke Ohuocha; Editing by Tomasz Janowski)
