TotalEnergies SE (TTE)

[eFinanceMarkets]

Total signs new deepwater offshore license in Mauritania

Total (TOT +1.6%) expands its exploration operations offshore Mauritania with a new exploration and production contract with the government for a high-potential zone.

TOT will operate the C7 deepwater block with a 90% stake, and says the addition of the block to its existing C9 deepwater license creates a contiguous exploration area of ~17K sq. km in a high-potential zone.

TOT has been busy offshore Africa, securing two agreements in Senegal this month to explore the country’s deepwater potential.