TotalEnergies is committed to investing 362 billion CFA francs to enhance its operations in Congo by 2024.
TotalEnergies, a global multi-energy company, has announced a significant investment plan for the Republic of Congo, aiming to strengthen its activities in the region with an investment of 362 billion CFA francs in 2024. This strategic move underscores the company’s commitment to the country and its long-term vision for sustainable energy development.
The investment will focus on several key areas, including the expansion of the Moho field operations, where TotalEnergies has recently increased its interest. The Moho field is a deep-offshore asset located 80 kilometres off the coast of Pointe Noire, operated by TotalEnergies EP Congo. The field has seen a substantial increase in production since the startup of the Moho Nord project in 2017, with production facilities that include two Floating Production Units (FPU), Alima and Likouf, boasting a current output of around 100 kboe/d.
In addition to enhancing oil and biofuel production, TotalEnergies is also focusing on renewable energy initiatives and carbon storage projects. One such project is the Bateké Carbon Sink initiative, which aims to plant over one million trees on the Bateké Plateaux, contributing to the development of natural carbon sinks.
The CEO of TotalEnergies Patrick Pouyanné
The investment also aligns with TotalEnergies’ strategy to focus on low-cost, low-emission assets while leveraging its deep offshore expertise. The company’s commitment to the Republic of Congo is further demonstrated by its plans to drill an exploration well on the Marine XX license before the summer of 2024.
TotalEnergies’ approach to its operations in the Republic of Congo is holistic, encompassing not only the expansion of its energy production but also the implementation of community outreach initiatives and actions aimed at promoting biodiversity. The company’s presence in the country dates back to 1968, and it has since become the leading retailer and the number one oil operator in the Republic of Congo, with over 700 employees and approximately 50 service stations across the country.
The investment by TotalEnergies is expected to have a positive impact on the local economy, creating jobs and fostering economic growth. It also reflects the company’s dedication to responsible energy production and its role in the global transition to more sustainable energy sources.
As the world continues to navigate the challenges of energy production and environmental conservation, TotalEnergies’ investment in the Republic of Congo serves as a testament to the company’s innovative spirit and its pursuit of energy that is affordable, sustainable, reliable, and accessible to as many people as possible.
TotalEnergies’ Sustainability Strategy for the Congo Project
TotalEnergies has laid out a comprehensive sustainability plan for its ambitious projects in the Republic of Congo, focusing on long-term environmental and community development. The company’s strategy is built on three main pillars: environmental conservation, social responsibility, and economic development.
**Environmental Conservation**
TotalEnergies is committed to the preservation of biodiversity and the sustainable management of natural resources. The Bateké Carbon Sink project is a prime example of this commitment, where the company plans to plant over one million trees on the Bateké Plateaux. This initiative is expected to capture more than 10 million tonnes of CO2 over 20 years. Additionally, TotalEnergies is exploring the solarization of the Djéno oil terminal, further reducing the carbon footprint of its operations.
**Social Responsibility**
The company recognizes the importance of engaging with and supporting local communities. Through the BaCaSi project, TotalEnergies has established a pioneering partnership aimed at improving local farming and forestry, which includes the conservation of forest patches and the development of agroforestry schemes managed with local communities. This approach ensures that the benefits of the project extend to the local population, offering them a stake in the region’s socio-economic development.
**Economic Development**
TotalEnergies’ investment is expected to bolster the local economy by creating jobs and fostering economic growth. The company’s strategy includes drilling an exploration well on the Marine XX license and enhancing oil and biofuel production, which will contribute to the country’s energy independence and financial stability.
To ensure the sustainability of these projects, TotalEnergies has allocated an annual budget of $100 million to participate in the development of a sustainable sequestration capacity of at least 5 million tons of CO2 per year from 2030. This financial commitment underlines the company’s dedication to responsible energy production and its role in the global transition to more sustainable energy sources.
In conclusion, TotalEnergies’ sustainability plan for its Congo project is a multifaceted approach that balances the need for energy production with environmental stewardship and community engagement. The company’s efforts reflect a deep understanding of the interconnectedness of these elements and a commitment to a future where energy is not only accessible and reliable but also sustainable and responsible.
This investment, announced by the CEO of the French oil giant Patrick Pouyanné, will be used in particular to finance the exploration and maintenance of production from the giant Moho Nord field with a capacity of 140,000 barrels of oil per day.French oil giant TotalEnergies plans to invest $600 million (more than 362 billion CFA francs) in Congo this year, as part of strengthening its production and exploration activities in the country. The announcement of this investment was made by the company’s CEO Patrick Pouyanné, during an audience granted to him by the President of the Republic of Congo Denis Sassou Nguesso, on May 19 in Oyo.
According to the declarations of the boss of the French oil company, the planned investment will notably make it possible to finance exploration activities and also maintain production deep offshore, from the Moho Nord field whose capacity is 140,000 barrels of oil per day, or more than half of Congolese production. “TotalEnergies continues to be very active in Congo and I wanted to share this news with President Denis Sassou Nguesso,” Patrick Pouyanné told the media. TotalEnergies, through its subsidiary TotalEnergies EP Congo, signed an agreement in April relating to the acquisition from Trident Energy of an additional 10% stake in the Moho permit. Thus, at the end of the transactions, the company will hold an operating stake of 63.5% in the said permit, alongside Trident Energy (21.5%) and the Société Nationale des Pétroles du Congo (SNPC, 15%).
Moho North at the centre of expectations
The Moho Nord field is a vast project operated by TotalEnergies which aims to produce the still unexploited oil reserves of Moho-Bilondo. This permit, which extends over 320 km2 in water depths of 750 to 1,200 meters, brings together four reservoirs, two of which came into operation in 2008 with the start of production of a floating production unit (FPU) called Alima. It is with the Moho Nord project that the second development of the field will be launched. Thus, in 2015, phase 1 Bis began, which consisted of modernizing the FPU Alima and connecting 9 new wells. This redevelopment, we learned, allowed TotalEnergies to ensure additional production of 40,000 barrels of oil per day. The second phase, launched in 2017, concerns the exploitation of the last two reservoirs (Miocene and Albian reservoirs) which contain oils located at two different water depths and distributed over 33 wells. The oil obtained is transported by pipeline to the coastal terminal of Djéno.
Soon the drilling of the well on the Marine XX permit
The other project which will benefit from TotalEnergies’ investments concerns the Marine XX permit which is full of liquid or gaseous hydrocarbons, whose oil field is located very deep offshore. This exploration area extends over an area of 3,285.8 km2 for a water depth estimated at 2000 m. “Two drilling rigs arrived this month in Congo,” reassures Patrick Pouyanné. A device will drill an oil well which is expected on the Marine XX permit. This is a good prospect, we hope to be able to come back in four months to announce a nice discovery in Congo.” Following the Congolese law on hydrocarbons, the exploration permit for this oil field should be awarded to the Société Nationale des Pétroles du Congo, while the conduct of oil operations will be ensured by TotalEnergies EP Congo.
A historic partner of the Republic of Congo, the French giant is the country’s leading oil operator. The French multinational controls more than half of national production. Thus, thanks to the announced investment, the French oil company should see its market share increase in the country, in a context where Brazzaville is counting on rising oil revenues in 2024. Indeed, while the main hydrocarbon producers of the Cemac zone are projecting downward performances like Chad which expects a drop in black gold revenues of around 34 billion CFA francs, Congo wants to be more optimistic by weighting its objectives oil revenues at 1,464.9 billion CFA francs, up 11.1% compared to 2023.
