S'abonner

Congo welcomes a joint venture between TotalEnergies and Vantage for a ten-year contract

TotalEnergies and Vantage Drilling announce the creation of TEVA Ship Charter LLC, a joint venture aimed at managing the Tungsten Explorer platform for an initial ten-year period in Congolese waters.

Share:

The creation of TEVA Ship Charter LLC, a joint venture between TotalEnergies and Vantage Drilling International Ltd., marks a strategic milestone in offshore drilling platform management. Based on a solid partnership, this entity will operate the **Tungsten Explorer** drilling platform under an initial ten-year contract, with the possibility of a five-year extension.

The acquisition of the platform, scheduled after its current contract in Congo ends, is governed by detailed agreements, including a purchase agreement and a management contract. Vantage Drilling, a specialist in offshore operations, will oversee the platform’s daily operations, further solidifying its presence in the African market.

Commercial objectives and strategic implications

This initiative reflects TotalEnergies’ strategy to diversify its activities in the offshore sector while strengthening its commercial partnerships. Congo, rich in energy resources, provides a conducive environment for such a strategic investment. Through this project, TotalEnergies reaffirms its ambition to maximize the performance of its assets in complex environments.

Vantage Drilling, on the other hand, gains a unique opportunity to demonstrate its operational expertise. The agreement outlines joint management of operations through TEVA, which is expected to ensure increased efficiency and high standards in safety and sustainability.

A sector in search of resilience

In a context where the global oil and gas market remains marked by geopolitical and economic challenges, such strategic collaborations are crucial. The partnership between TotalEnergies and Vantage Drilling highlights the importance of synergies in reducing operational costs while optimizing production.

The TEVA initiative also comes at a time when major energy companies are striving to balance profitability with technological innovation. With centralized management and clearly defined objectives, the joint venture exemplifies a proactive approach to overcoming the challenges associated with offshore projects.

  • Populaires ​
Carbon2Nature and Uría Menéndez launch reforestation of 90 hectares in Salamanca
MN8 Energy raises $575mn with Natixis CIB to strengthen its US solar debt
TNB, Petronas and Terengganu Inc launch green hydrogen hub and hybrid solar in Malaysia
Occidental Petroleum reduces production in the Gulf of Mexico in the second quarter
Azule Energy announces major offshore gas discovery in the Angolan Congo Basin
Eni signs twenty-year agreement with Venture Global for 2 mn tonnes of LNG per year
Italian group Eni signs a twenty-year liquefied natural gas supply contract with US-based Venture Global, covering two mn tonnes per year and marking a first for the company from the United States.
Angola Opens a New Gas Chapter with the Discovery of the Gajajeira Field
The discovery of the Gajajeira field marks a major step for Angola, strengthening its natural gas development strategy and diversifying national energy resources in a context of sector transition.
A US-sanctioned LNG vessel docks at Russia’s Arctic LNG 2 terminal
The Voskhod vessel, under US sanctions, docked at the Arctic LNG 2 plant in Russia, marking the second visit by a sanctioned ship to the site this year, according to maritime tracking data.
Japan urgently secures LNG cargoes amid critically low reserves
Japan has urgently secured several additional cargoes of liquefied natural gas from the United States to avert an imminent electricity supply shortage caused by rapidly declining national reserves expected at the end of July.
The EU proposal to ban Russian gas fuels uncertainty for the European market
The European Commission has unveiled a proposal to prohibit the import of Russian gas into the Union, sparking intense debate on its feasibility, contractual impact and consequences for supply security among several Member States.
CNOOC Limited achieves major breakthrough in offshore exploration in the Beibu Gulf
CNOOC Limited announces the discovery of a significant oil and gas reservoir in the buried hills of the Beibu Gulf, opening new opportunities for shallow water exploration off the coast of China.
TotalEnergies in Mozambique: $4.7 bn US loan challenged in court by NGO
TotalEnergies’ Mozambique LNG gas project is at the centre of a legal challenge in Washington, following the approval of a $4.7 bn loan by the US Exim Bank, amid security concerns and opposition from civil society groups.
U.S. Midstream: Gas pipeline projects shift focus to West and Northeast
Investors are closely watching U.S. midstream companies’ announcements regarding new gas pipeline expansions targeting promising markets in the West and Northeast, beyond traditional regions in Texas and the Southeast.
PPL Corporation and Blackstone Infrastructure launch gas partnership to power data centers in Pennsylvania
PPL Corporation and Blackstone Infrastructure announce a strategic partnership to develop new gas-fired power plants to supply electricity to data centers through long-term contracts in Pennsylvania.
Falcon Oil & Gas sets initial production record at Beetaloo site in Australia
Falcon Oil & Gas Ltd announces a new record initial flow test result at the Shenandoah S2-2H ST1 well and the start of its 2025 drilling campaign in the Beetaloo Basin.
Technip Energies signs major contract for floating natural gas unit in Africa
Technip Energies has secured a contract to lead preparatory works for a floating liquefied natural gas unit in Africa, confirming its presence in the international gas infrastructure market.
Slovakia targets European agreement on end of Russian gas and sanctions by Tuesday
The Slovak government is seeking guarantees from the European Union to secure its supplies as talks continue over ending Russian gas and adopting a new round of sanctions.
ArcLight Capital acquires Middletown Energy to meet growing energy needs
ArcLight Capital Partners announces the acquisition of Middletown Energy Center, a combined-cycle natural gas power plant, aimed at meeting the substantial rise in energy demand from data centers and digital infrastructure in Ohio.
LNG Canada launch has no immediate effect on gas prices
The commissioning of LNG Canada, the first major Canadian liquefied natural gas export facility led by Shell, has not yet triggered the anticipated rise in natural gas prices in western Canada, still facing persistent oversupply.
Horizon Petroleum prepares its first gas drilling in Poland for August 2025
Horizon Petroleum Ltd. is advancing towards the production launch of the Lachowice 7 gas well in Poland, having secured necessary permits and completed preliminary works to commence operations as early as next August.
EU imposes secrecy on national strategies for Russian gas phase-out
European Union member states have requested to keep their national strategies for phasing out Russian gas by 2027 confidential, citing security concerns and market disruption risks, according to a document revealed by Reuters.
TotalEnergies joins PJM Interconnection, the largest power grid in the United States
TotalEnergies becomes a member of PJM Interconnection, expanding its trading capabilities in North America's largest wholesale electricity market. The decision strengthens the company's presence in the United States.
Turkey plans to start gas supplies to Syria soon, says energy minister
Turkey has connected its gas grid to Syria’s and plans to begin supplying gas for power generation in the coming weeks, according to Turkish Energy Minister Alparslan Bayraktar.
China Reaches Record Energy Demand Without Boosting LNG Purchases
Despite record electricity demand, China sees no significant increase in LNG purchases due to high prices and available alternative supplies.
US natural gas production to hit historic high in 2025
US natural gas production and consumption are expected to reach record highs in 2025, before slightly declining the following year, according to the latest forecasts from the US Energy Information Administration.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING