TotalEnergies SE (NYSE:TTE) is one of the best-performing European stocks to invest in. The company recently signed a Production Sharing Contract with South Atlantic Petroleum for two offshore exploration licenses in Nigeria, totaling 2,000 square kilometers in the West Delta basin.

Nigeria has been a key part of TotalEnergies’ hydrocarbon output for over 60 years, contributing around 209,000 barrels of oil equivalent per day in 2024.

TotalEnergies SE (NYSE:TTE) states that the acquired blocks have promising drill-ready prospects. The company will have an 80% ownership stake, with South Atlantic Petroleum owning the remaining 20%.

TotalEnergies SE (NYSE:TTE) is a global integrated energy company involved in electricity, renewable energy, oil, biofuels, and natural gas production.

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Read more at Yahoo Finance: TotalEnergies (TTE) Expands Nigerian Presence With New Offshore Licenses