TotalEnergies (TTE) Secures New Exploration Permit off Congo Coast

TotalEnergies SE (NYSE:TTE) is one of the best dividend stocks to buy. On September 1, the company disclosed in a press release that it has received the Nzombo exploration permit in the Republic of the Congo.

Located 100 km off Pointe-Noire and close to TotalEnergies’ Moho production sites, the 1,000 km² permit will be 50% operated by TotalEnergies, while QatarEnergy and SNPC hold 35% and 15%, respectively. Drilling for one exploration well is set to start before the end of 2025, according to the work program.

According to Kevin McLachlan, Senior VP of Exploration at TotalEnergies, the award demonstrates the company’s strategy to grow its Exploration portfolio with projects that can benefit from existing facilities.

With the Nzombo permit, the company continues its long-term collaboration with the Republic of the Congo, where it operates existing production facilities.

TotalEnergies SE (NYSE:TTE) is a French global energy company that produces and sells oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewable energy, and electricity.

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