Trident Energy has signed an agreement with Chevron Corporation to acquire the entire issued share capital of Chevron Overseas (Congo) Limited which 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, according to the company's release.
In addition, Trident Energy has signed multiple agreements with TotalEnergies 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.