REG-TotalEnergies SE Joint Statement of the Independent State of Papua New Guinea and TotalEnergies

TotalEnergies SEAnnouncement

08/04/2024 07:30

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Joint Statement of the Independent State of Papua New Guinea and TotalEnergies

 

James Marape, the Prime Minister of Papua New Guinea and Patrick Pouyanné,
Chairman and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), met
together to discuss the status of the Papua LNG project.

On this occasion, Patrick Pouyanné reaffirmed to the Prime Minister that
TotalEnergies, operator of the project, and its international partners
ExxonMobil, Santos, JX Nippon, are fully committed to Papua LNG.

In particular, he shared the high interest of several LNG buyers for
off-taking LNG from Papua LNG due to its strategic location close to key Asian
markets.

He also informed the Prime Minister that, after receiving first EPC offers, it
appears that the project will need to keep working with contractors to obtain
commercially viable EPC contracts and requires more work to reach FID.

In that view, the project will review the structure of some packages and open
the competition to an enlarged panel of Asian contractors. As a consequence,
FID of Papua LNG project is now expected in 2025.

The Prime Minister and Patrick Pouyanné agreed that this slight delay will
not affect the early works planned in Papua New Guinea in 2024 and that the
project will maintain its full support to local population of Gulf Province.
This demonstrates the commitment of TotalEnergies to the well-being of the
people of Papua New Guinea.

Moreover, Patrick Pouyanné announced that TotalEnergies intends to drill the
first deepwater exploration well on the PPL 576 license in 2025.

***

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
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entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
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nor any of its subsidiaries assumes any obligation to update publicly any
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TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

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