TotalEnergies Partners with BluEnergies for Offshore Exploration

BluEnergies Ltd. has entered into a joint study and application agreement with TotalEnergies SE to explore the Harper Basin, offshore Liberia. This collaboration aims to assess the potential of deep water fan play in the West Africa Transform Margin. The agreement covers blocks LB-26, LB-30, and LB-31, with plans to apply for production sharing contracts if viable prospects are found.

The initial budget for this project includes reprocessing 6,167 km² of 3-D seismic data and acquiring new sea bottom data to evaluate hydrocarbon potential. A new reconnaissance license, RL-003, has been signed, granting BluEnergies a 35% interest, while TotalEnergies holds 65%. The license spans 8,924 km² and continues until June 2027.

Background negotiations led BluEnergies to choose TotalEnergies for an exclusive partnership in this venture, following a thorough review of available seismic data and subsequent negotiations.