TotalEnergies Confirms Near 100 Million Barrel Moho G Discovery Offshore Republic of Congo, Plans Likouf Tie-Back

TotalEnergies has confirmed a major hydrocarbon discovery at the Moho G structure in its offshore Moho license in the Republic of Congo, with recoverable resources estimated close to 100 million barrels of oil equivalent when combined with the nearby Moho F discovery announced previously. The announcement, made April 13, 2026, adds meaningful depth to the French supermajor's West African portfolio at a time when global oil prices remain highly elevated.

The discovery well, MHNM-6 NFW, encountered approximately 160 meters of net hydrocarbon column in good-quality Albian reservoirs. TotalEnergies operates the Moho license with a 63.5% working interest alongside partners Trident Energy, which holds 21.5%, and the Congolese national oil company Société Nationale des Pétroles du Congo (SNPC), which retains a 15% stake.

The Moho license already supports two floating production units: the Alima and the Likouf tension leg platform (TLP). The combined output from these facilities currently stands at approximately 90,000 barrels of oil equivalent per day (kboe/d) on a gross basis. The Moho G discovery is planned for development as a low-cost tie-back to these existing facilities, a strategy designed to minimize capital expenditure while maximizing production upside.

"By leveraging our technical expertise and existing infrastructure, we are creating the conditions for future value-accretive production," said Nicola Mavilla, Senior Vice-President Exploration at TotalEnergies. The remarks underscore the company's focus on short-cycle, capital-efficient development in a region where it has operated for decades.

Pricing Context: West African Barrels in High Demand

The Moho G discovery arrives as global crude oil prices have surged sharply. Brent crude has traded above $100 per barrel in April 2026, driven by geopolitical tensions in the Middle East that have disrupted export flows and pushed Asian LNG spot prices to multi-year highs. In this environment, high-quality West African light crude has attracted a premium, as refiners in Europe and Asia seek alternatives to Gulf supplies. Congo's offshore production, light and low-sulfur, is well-positioned to capitalize on this demand shift.

The elevated price environment makes the tie-back development economics for Moho G particularly compelling. Developing reserves through existing infrastructure rather than standalone facilities can reduce the break-even cost substantially, potentially to well below $40 per barrel given the short distance to the Likouf TLP. For TotalEnergies, which is simultaneously managing the aftermath of the SATORP refinery shutdown in Saudi Arabia, new upstream volumes from proven, low-cost West African assets provide a valuable counterbalance.

Strategic Significance for TotalEnergies' Africa Portfolio

The Republic of Congo has been a cornerstone of TotalEnergies' African upstream operations for more than 50 years. The Moho Nord deepwater development, brought onstream in 2017 at a capital cost of approximately $10 billion, established the current Alima and Likouf production infrastructure that now underpins incremental discoveries like Moho F and Moho G. This hub-and-spoke approach to deepwater development has become a defining feature of TotalEnergies' exploration strategy across sub-Saharan Africa.

The addition of near 100 million barrels recoverable from the Moho G and Moho F structures would represent a meaningful reserve replacement for the Moho license, helping sustain production rates from the Likouf TLP well into the next decade. The Albian reservoir intervals encountered in the MHNM-6 well are well-understood geologically from earlier wells in the area, reducing subsurface risk for the development phase.

Trident Energy, the London-based independent operator with a growing portfolio of African producing assets, will benefit from the discovery through its 21.5% stake. Trident has been actively growing its position across West Africa, and the Moho G upside adds to the reserve base supporting its Congo operations.

Offshore Africa: A Hotspot for 2026 Exploration

The Moho G announcement is part of a broader resurgence in offshore African exploration. Multiple operators are accelerating drilling programs along the West African margin in 2026, attracted by favorable fiscal terms, existing infrastructure, and the region's track record of world-class deepwater reservoirs. Analysts note that discoveries tied back to existing infrastructure, like Moho G, offer some of the fastest paths to first oil in the industry today.

For investors tracking TotalEnergies, the Moho G find reinforces the company's ability to generate new production through its legacy asset base without requiring frontier exploration spending. The company had previously flagged its deepwater Congo position as a key source of low-cost barrels in its multi-year capital plan. This discovery validates that strategy.

Sources: TotalEnergies press release, April 13, 2026; OilPrice.com market data.