Trident Energy Management Limited agreed to acquire Chevron Overseas (Congo) Limited from Chevron Corporation (NYSE:CVX) on April 24, 2024. Chevron Overseas (Congo) holds a 31.5% non-operated working interest in the Moho-Bilondo, Nkossa, Nsoko II fields and a 15.75% operated interest in the Lianzi field. In addition, Trident Energy has signed multiple agreements with TotalEnergies (ENXTPA: TTE) to simultaneously acquire an additional 53.5% working interest in the Nkossa and Nsoko II fields from TotalEnergies and divest a 10% working interest in the Moho-Bilondo field to TotalEnergies.

Upon completion of the transactions, Trident Energy will hold an 85% working interest in the Nkossa and Nsoko II fields, a 15.75% working interest in the Lianzi field and will take over the operation of these fields. Trident Energy will also retain a 21.5% working interest in the Moho?Bilondo field, operated by TotalEnergies. Subject to approval from the relevant authorities, the transaction is anticipated to be completed by the end of Q4 2024.

Darren Spalding, Olivia Caddy, Jason Fox, Adam Blythe, Robert Meade and Alistair Calvert, Leslie Hansen and Ruth Townsend of Bracewell (UK) LLP represented Trident Energy, L.P. in connection with a series of transactions in the Republic of Congo.