19 September 2025
19 September 2025
TotalEnergies declared force majeure on the project in 2021 due to security concerns in Mozambique's Cabo Delgado province.
The initial exploration phase is backed by a $100m (348.99m new sol) investment from the Peruvian Government.
With this agreement, Petronas Carigali will seek to increase drilling success rates and accelerate exploration activities.
The acquisition was scrapped due to a lapse in meeting key conditions set out in the SPA.
The deal includes a 45% stake in the Sakakemang PSC and an 80% interest in the South Sakakemang PSC.
The scope of the contract includes the deployment of several Weatherford technologies.
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