In an agreement with Chevron Corporation, Trident Energy will acquire the entire issued share capital of Chevron Overseas (Congo) Limited
A 31.5% non-operated working interest in the Moho-Bilondo, Nkossa, Nsoko II fields, and a 15.75% operated interest in the Lianzi field make up Chevron Congo's present asset range.
Trident has also signed several agreements with TotalEnergies, which makes Trident eligible to acquire an additional 53.5% working interest in the Nkossa and Nsoko II fields from Total.
Trident will divest a 10% working interest in the Moho-Bilondo field to TotalEnergies.
These transactions will allow Trident Energy to hold an 85% working interest in the Nkossa and Nsoko II fields and a 15.75% working interest in the Lianzi field.
While assuming operatorship of these fields, Trident will also retain a 21.5% working interest in the Moho–Bilondo field, operated by TotalEnergies.
The transaction is expected to end by Q4 2024.
Partnership with SNPC and Government of Congo
Jean-Michel Jacoulot, chief executive of Trident Energy ML, “We are delighted to announce the signing of these transactions and enter the Republic of Congo. We look forward to working with our new partners, SNPC and the Congolese Government. This deal represents an exciting new chapter in Trident Energy’s growth story and strengthens our presence and capabilities in Africa. The transaction aligns with our strategy to acquire and operate high quality assets in a safe, efficient and responsible manner.
"Building on our continued successes in Equatorial Guinea and Brazil, we are excited to unlock further value and create opportunities for our partners in the Republic of Congo, host communities and all our stakeholders.”
Click here to know more about the plans of the Ministry of Hydrocarbons of the Republic of Congo in exploring foreign investment opportunities.
