Oil and gas company Trident Energy secured agreements in April with multinational energy corporations Chevron and TotalEnergies to acquire stakes in oil fields in the Republic of the Congo. The company will gain a 31.5% operated interest in the Moho-Bilondo, Nkossa and Nsoko II fields and a 15.75% working interest in the Lianzi field. Trident Energy has also acquired an additional 53.5% stake in the Nkossa and Nsoko II fields from TotalEnergies, bringing its stake in the fields to 85%. The acquisitions align with Trident Energy’s commitment to boost production in Africa.
In an effort to affirm its investment in African energy, Trident Energy has joined the African Energy Week (AEW): Invest in African Energy 2024 conference as a bronze sponsor. Scheduled for November 4-8 in Cape Town, AEW: Invest in African Energy 2024 will bring together investors, developers and industry leaders to discuss and advance opportunities in Africa’s energy sector. Trident Energy’s return to the conference reflects its commitment to developing energy projects in Africa.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Trident Energy’s entry into the Republic of the Congo’s market is set to enhance the production efficiency of the fields it has acquired and create substantial value from its assets. With proven crude oil reserves reaching 1.8 billion barrels, the Republic of the Congo possesses immense resource potential for economic growth. Trident Energy’s strategic acquisitions and redevelopment efforts are poised to unlock this potential, driving increased production, generating job opportunities and contributing to the country’s economic stability and sustainable development.
In addition to its operations in the Republic of the Congo, Trident Energy is actively engaged in Equatorial Guinea. Here, the company has partnered with Kosmos Energy on the Ceiba and Okume Complex, in which it currently operates Block G and holds stakes in Blocks S, W, and EG-21. The company has undertaken redevelopment efforts in Equatorial Guinea to optimize production and extend the life of the assets, contributing to the country’s oil output. Trident Energy’s strategic approach includes enhancing production efficiency and leveraging advanced technologies to maximize asset value.
The company recently welcomed offshore drilling contractor Noble Corporation’s Noble Venturer drillship for a new drilling campaign offshore Equatorial Guinea, which was launched last November and is expected to begin Q3/Q4 2024. This campaign will include two infill wells at the Ceiba and Okume Complex fields in shallow and deepwater, before moving to Block S – operated by Kosmos Energy – for an exploration well. The Akeng Deep ILX well at Block S aims to test a play in the Albian, targeting an estimated gross mean resource of around 180 million barrels of oil near existing infrastructure at Block G. The drilling campaign is estimated to last 150 days.
“Trident Energy’s approach to revitalizing mature oil and gas fields is exactly what Africa needs to increase production and ensure energy security. By strategically increasing its stakes in key assets, Trident Energy is accelerating production and maximizing the value of these fields. The company’s commitment to sustainable practices is vital for extending the longevity of these assets, ensuring that they contribute to Africa’s energy needs for years to come,” said NJ Ayuk, Executive Chairman of the African Energy Chamber.
Returning to AEW: Invest in African Energy 2024, Trident Energy will showcase its ongoing and future projects across African markets. The company will also seek to build new connections and explore opportunities for expansion by engaging with key stakeholders and African leaders at the conference.
Distributed by APO Group on behalf of African Energy Chamber.
Source: Apo-Opa
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