By chatnewstv.com
VANCOUVER, British Columbia — BluEnergies Ltd. announced Thursday it has entered into a joint study agreement with a subsidiary of TotalEnergies SE to explore deepwater oil and gas potential offshore Liberia.
The agreement focuses on the Harper Basin, a region within the West Africa Transform Margin. Industry experts have noted the area’s geological similarities to successful production zones in South America.
Under the terms of the joint study and application agreement, the companies will evaluate three specific offshore blocks covering approximately 2.2 million acres. If the study identifies economically viable drilling targets, the partners intend to apply for production sharing contracts to begin formal extraction operations.
“The purpose of this agreement is to further unlock the prospective potential of the Harper Basin blocks,” the company said in a statement.
The 18-month work program includes “state-of-the-art” seismic reprocessing and the acquisition of new sea-bottom data to “de-risk” the area’s hydrocarbon potential. This technical work, already underway as of late November, involves high-resolution imaging of 1.5 million acres of seafloor.
As part of the deal, the Liberian government has issued a new reconnaissance license to the partnership. TotalEnergies will hold a 65% participating interest in the project, while BluEnergies will maintain a 35% stake.
The partnership follows a year of negotiations. BluEnergies previously identified seven large-scale “basin floor fans”—geological formations often associated with oil deposits—after reviewing 3D seismic data in 2024.
“This program involves state-of-the-art seismic reprocessing for more accurate reservoir imaging,” the company noted, adding that the budget for the evaluation has already been jointly committed.
BluEnergies, based in Vancouver and traded on the TSX Venture Exchange, focuses primarily on international oil and gas exploration in West Africa.
