SUBSCRIBE
PROFILE

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:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

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.

  • Popular on energynews.pro
Iberdrola adds 708 MW of solar capacity to joint venture with Norges Bank
EDF power solutions and El Paso Electric launch 150 MW solar facility in New Mexico
TotalEnergies sells Norwegian oil assets to Vår Energi to reduce debt
Oil rises 1.3% after limited OPEC+ output increase
Sembcorp acquires ReNew’s solar unit in India for $190mn
Talen Energy secures $1.2bn to acquire two natural gas power plants in the United States
Talen Energy launches $1.2bn debt financing and expands credit facilities to support strategic acquisitions of two combined-cycle natural gas power plants.
Ukraine plans to increase gas imports by 30% after Russian strikes
The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.
Global natural gas power generation market to reach $122.49bn by 2030
Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.
Talen Energy raises $1.2bn to finance two gas-fired power plants in the United States
Talen Energy secures $1.2bn term financing and increases two credit facilities to support the acquisition of two natural gas power plants with a combined capacity of 2,881 MW.
Tenaz Energy acquires strategic North Sea gas assets for $339mn
Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.
Sembcorp secures new 10-year contract for its Salalah power plant
Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
Eni resumes offshore drilling in Libya after five-year suspension
Eni North Africa restarts drilling operations on well C1-16/4 off the Libyan coast, suspended since 2020, aiming to complete exploration near the Bahr Es Salam gas field.
GOIL commits $50mn to expand LPG storage capacity in Ghana
GOIL is investing $50mn to expand its LPG storage capacity in response to sustained demand growth and to improve national supply security.
QatarEnergy acquires 27% stake in Egypt’s offshore North Cleopatra block
QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
Wood Mackenzie: the UK can double North Sea reserves without breaching climate limits
An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.
Ukrainian suspected in Nord Stream sabotage faces possible extradition
Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
Shizuoka Gas closes tender for seven-year LNG contract starting 2027
The Japanese company has completed the first phase of a tender for five annual cargoes of liquefied natural gas over seven years starting in April 2027, amid a gradual contractual renewal process.
Baker Hughes to supply key liquefaction equipment for Port Arthur LNG Phase 2
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.
Targa invests $1.6bn in NGL pipeline between Permian and Mont Belvieu
Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.
J&F Investimentos targets EDF’s thermal plant amid Brazil’s booming energy M&A
Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Chevron puts Colorado pipeline assets up for sale for more than $2 billion
Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
Hungary secures 10-year LNG contract with Engie through 2038
Hungary has signed a ten-year agreement with Engie for the annual import of 400 mn m³ of liquefied natural gas starting in 2028, reinforcing its energy diversification strategy despite its ongoing reliance on Russian gas.
Ukrainian suspected in Nord Stream sabotage held in Poland
Wanted by Germany for his alleged role in the 2022 sabotage of the Nord Stream pipelines, a Ukrainian has been arrested in Poland and placed in provisional detention pending possible extradition.
Russia strikes 95 targets and severely damages Ukrainian gas sites
An unprecedented overnight offensive targeted gas infrastructure in Ukraine, damaging several key facilities in the Kharkiv and Poltava regions, according to Ukrainian authorities.
Fluxys declares force majeure at Dunkirk, disrupting LNG deliveries
The Dunkirk LNG terminal, the second largest in continental Europe, is seeing reduced capacity due to a nationwide strike disrupting all French LNG infrastructure.