TotalEnergies SE (NYSE:TTE) shares are trading higher in Monday’s premarket session, outperforming a weaker broader market as energy stocks gain traction. Nasdaq futures are down 0.61%, while S&P 500 futures have also slipped 0.61%.

Offshore Congo Hydrocarbon Discovery

On Monday, the company reported a hydrocarbon discovery on the Moho license offshore the Republic of the Congo, following drilling of the MHNM-6 NFW well targeting the Moho G structure.

The well encountered a hydrocarbon column of roughly 160 meters in the Albian reservoirs. Together with a prior discovery at Moho F, the find is estimated to hold nearly 100 million barrels of recoverable resources.

TotalEnergies plans to develop the reserves through a tie-back to existing Moho infrastructure, enabling faster and more cost-efficient production.

TotalEnergies EP Congo operates the license with a 63.5% stake, alongside Trident Energy (21.5%) and Société Nationale des Pétroles du Congo (15%). Current production from existing facilities stands at approximately 90,000 barrels of oil equivalent per day.

Betting on Asia’s Clean Energy Growth

Earlier this month, the company unveiled a major clean energy partnership to expand its footprint across Asia.

The French energy giant is forming a $2.2 billion, 50/50 joint venture with Abu Dhabi Future Energy Company PJSC (Masdar), combining their ...