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Energy major TotalEnergies is investing $500 million in new wells in the Republic of Congo, seeking to increase production at its Moho Nord field. Representing a major boost for the country’s offshore oil production, the investment reflects a broader trend by International Oil Companies (IOCs) in Africa, as firms target investments in brownfield assets to mitigate production declines and maximize operational blocks. The commitment was made during a visit by TotalEnergies CEO Patrick Pouyanné to Oyo earlier this week, where he met with Congolese President Denis Sassou Nguesso to discuss the company’s investment plans and ongoing activities.

As IOCs look to expand their upstream portfolios, this year’s African Energy Week (AEW): Invest in African Energies conference will explore new partnership opportunities between IOCs and African national oil companies (NOCs). A dedicated NOC-IOC Forum will convene leading public and private sector players, promoting high-level dialogue and facilitating new agreements. With a strong emphasis on upstream collaboration, the forum presents a strategic opportunity to drive forward investment across the continent.

TotalEnergies’ $500 million commitment to the Moho Nord field aligns with its broader strategy to unlock greater value from its Congolese portfolio. In 2024, the company deployed two deepwater drilling rigs in the country – one at Moho and another at the Marine permit. Following the conclusion of the exploration phase, drilling activities are now underway. Two wells have been completed to date, with production steadily increasing. A third well is currently being drilled, with a fourth set to follow. The Moho field accounts for nearly 50% of Congo’s daily oil output, averaging 140,000 barrels per day (bpd), and the new drilling campaign is expected to add an additional 40,000 bpd.

Earlier this year, TotalEnergies further consolidated its position in the Moho permit by acquiring an additional 10% stake from independent producer Trident Energy, bringing its total ownership to 63.5%. During his working visit to the Republic of Congo, Pouyanné reviewed current and upcoming exploration and production plans, reaffirming the company’s commitment to advancing its deepwater assets in alignment with national production targets. He emphasized that the outlook for future discoveries is promising and that TotalEnergies is well-positioned to sustain production at Moho for years to come.

The Republic of Congo has set a clear target to increase national production to 500,000 bpd and is actively engaging IOCs and independents operating offshore. Beyond Moho Nord, TotalEnergies is accelerating development at the Marine XX permit – a deepwater block currently in the exploration phase. Ongoing appraisal activities could lead to new discoveries, potentially reshaping the country’s production landscape. The company’s success in Congo is underpinned by a strong partnership with national oil company SNPC, which has enabled both increased production and greater value creation for the country.

Against this backdrop, the NOC-IOC Forum at AEW 2025 will play a pivotal role in advancing collaboration among Africa’s leading operators. The Forum offers a vital platform to engage on new investment prospects – ranging from brownfield enhancements to greenfield developments and frontier opportunities. As the continent’s premier energy event, AEW 2025: Invest in African Energies is committed to catalyzing the full potential of Africa’s oil and gas sector.

AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit https://aecweek.com for more information about this exciting event.