#TotalEnergies #Liberia #BluEnergies #Harper Basin #Labrador Coast

TotalEnergies Partners with BluEnergies in Oil Exploration

BluEnergies Ltd. (TSXV: BLU) has recently entered into a joint study and application agreement (JSAA) with TotalEnergies SE (NYSE: TTE) to enhance oil exploratory efforts in the Harper Basin, located off the coast of Liberia. This partnership aims to assess the drilling potential in key blocks within this promising area.

Background of the Agreement

The Harper Basin is nestled within the continental margin of West Africa, a hotspot for oil exploration. The JSAA marks a significant step towards unlocking the potential of the Harper Basin, especially in the blocks LB-26, LB-30, and LB-31. BluEnergies and TotalEnergies seek to establish economically viable drilling prospects, spurred by a substantial budget allocated for a work program over the next 18 months.

Under the agreement, the initial phase involves cutting-edge reprocessing of seismic data to gain more accurate insights into the reservoirs, alongside marine data acquisition to mitigate risks related to hydrocarbon potential. The reprocessing of seismic data, covering approximately 6,167 square kilometers initially acquired back in 2013, commenced on November 28, 2025, in collaboration with TGS ASA, a leading provider of geophysical data.

New Exploration Permit

To facilitate this collaboration, both parties secured a new reconnaissance permit, LPRA-003, from the Liberian Petroleum Regulatory Authority (LPRA). This permit, while covering an area of about 8,924 square kilometers, stipulates that BluEnergies holds a 35% interest while TotalEnergies retains 65%. The joint work program mandated by this permit entails advanced 3D data reprocessing and new seabed data acquisition.

The duration of the LPRA-003 permit is valid until June 30, 2027, replacing a previously held reconnaissance permit that required respective investment commitments. BluEnergies has already invested approximately USD 1.86 million in preparatory work, underscoring their commitment to developing this project.

Significance of the Partnership

The strategic partnership with TotalEnergies is a pivotal moment for BluEnergies, reinforcing its position in the burgeoning African oil sector. The collaborative effort reflects a shared vision to explore and capitalize on hydrocarbon potential amid a competitive market landscape. As exploratory negotiations with TotalEnergies solidified into this JSAA, it positions BluEnergies favorably for future contracts and production sharing agreements, contingent upon successful exploration outcomes.

Looking Ahead

As BluEnergies embarks on this ambitious venture with TotalEnergies, the company remains optimistic about its exploration capabilities in the Harper Basin. The next steps entail a thorough examination of seismic data and seabed conditions to determine the viability of future drilling operations. With increasing global energy demands and a focus on untapped resources, this partnership could significantly enhance both companies’ footprints in West Africa.

For more insights on BluEnergies Ltd., visit their official website at www.blu-energies.com.

Conclusion

The agreement between TotalEnergies and BluEnergies is not just about oil; it represents a strategic alliance aiming to push the boundaries of exploration in an exciting and crucial segment of the global energy landscape. Given the complexities involved in offshore oil exploration, this partnership highlights the importance of collaborative efforts in the pursuit of sustainable energy solutions.