Skip to main content

TotalEnergies raises its interest in the Moho field and divests assets in Congo

The French oil and gas company TotalEnergies has announced that its 85%-owned affiliate, TotalEnergies EP Congo, has signed an agreement with Trident Energy combining the acquisition of an additional 10% interest in the Moho oil and gas license from Trident Energy and the sale to Trident Energy of its 53.5% interest in the Nkossa and Nsoko II licenses in the Republic of Congo. 

Moho is a deep-offshore field located 80 km 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. Nkossa and Nsoko II are two offshore fields located 70 km off the Congolese coast. Starting respectively in 1996 and 2006, they are mature oil fields currently producing a combined 15 kboe/d. 

After completion of these transactions, TotalEnergies EP Congo will hold a 63.5% operated interest in the Moho license alongside Trident Energy (21.5%) and the Société Nationale des Pétroles du Congo (SNPC, 15%). Trident Energy will hold a 85% operated interest in the Nkossa and Nsoko II licenses alongside SNPC (15%).