Trident Energy strikes triple deal for Congolese assets

UK-based Trident Energy has signed agreements with Chevron Corporation and TotalEnergies to obtain working interests in the Moho-Bilondo, Nkossa, Nsoko II and Lianzi fields in the Republic of Congo, Trident Energy and TotalEnergies announced on Wednesday.

In one transaction, Trident will acquire all of the issued share capital of Chevron Overseas (Congo) Limited, which holds a 31.5% non-operated working interest in the Moho-Bilondo, Nkossa and Nsoko II fields and a 15.75% operated interest in the Lianzi field.

Trident will also acquire from TotalEnergies an additional 53.5% working interest in the Nkossa and Nsoko II fields and simultaneously divest a 10% working interest in the Moho-Bilondo field to the French supermajor.

Following the close of the transactions, which is expected in Q4 2024, Trident will hold an 85% working interest in Nkossa and Nsoko II, a 15.75% working interest in Lianzi and will take over the operation of these fields.

“We are delighted to announce the signing of these transactions and enter the Republic of Congo. This deal represents an exciting new chapter in Trident Energy’s growth story and strengthens our presence and capabilities in Africa,” said Jean-Michel Jacoulot, CEO of Trident Energy.

The financial terms of the deals were not disclosed.

Photo of Moho field courtesy of TotalEnergies