Pointe Noire, Republic of Congo — TotalEnergies, the French oil giant, announced on Monday the discovery of significant hydrocarbon reserves in the Republic of Congo. This discovery is a result of an expansion project in the offshore Moho field, situated in central Africa.
The newly identified reserves consist of a 160-meter hydrocarbon column, with estimates suggesting over 100 million barrels of recoverable resources. The find has been welcomed by QatarEnergy, which holds a 15% stake in TotalEnergies E&P Congo (TEPC).
The Moho field’s ownership is a collaborative venture, with TotalEnergies as the operator owning 50%, QatarEnergy with 35%, and the Congolese national oil company, Société Nationale des Pétroles du Congo, holding the remaining 15%. TotalEnergies E&P Congo currently maintains a 63.5% equity interest in the license, alongside Trident Energy (21.5%) and the Congolese national oil company.
The Moho field, positioned 80 kilometers from Pointe Noire’s coast, is already a major oil producer, with a daily output of around 90,000 barrels of oil equivalent. The new Moho G and Moho H discoveries are planned to be integrated into the existing infrastructure, a move that Nicola Mavilla, Senior Vice-President Exploration at TotalEnergies, has described as a strategic and cost-effective development.
Eng. Saad bin Sherida Al Kaabi, the Minister of State for Energy Affairs in Qatar and President and CEO of QatarEnergy, expressed his satisfaction with the discovery, emphasizing the importance of this development for both companies and the Republic of Congo’s energy sector.
Source: Africa.businessinsider
Original author: Chinedu Okafor
