REG-TotalEnergies SE Norway: TotalEnergies Divests Its Non-Operated Interest in West Ekofisk, Albuskjell and Tommeliten Gamma Fields

TotalEnergies SEAnnouncement

Wed 11:15

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Norway: TotalEnergies Divests Its Non-Operated Interest in West Ekofisk,
Albuskjell and Tommeliten Gamma Fields

 

TotalEnergies EP Norge (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an
agreement for the divestment of its non-operated interest (39.89%) in the West
Ekofisk and Albuskjell fields to Vår Energi and has also concluded an
agreement with Orlen Upstream Norway for the divestment of its non-operated
interest (20.23%) in the Tommeliten Gamma field.

These three mature fields, located in the Greater Ekofisk Area (Albuskjell and
West Ekofisk in PL018 license and Tommeliten Gamma in PL044 license), ceased
production in 1998 and are to be redeveloped as part of the so-called
“Previously Produced Fields project” (PPF).

Completion of the transactions is subject to the Final Investment Decision of
the PPF project, expected to be taken in the fourth quarter of 2025, and
customary regulatory approvals.

“TotalEnergies continues to actively high-grade its Upstream portfolio by
seizing value-accretive divestment opportunities. We remain fully committed to
Norway, where the Company holds interests in many licenses, including the
producing fields in the Greater Ekofisk Area,” said Jean-Luc Guiziou, Senior
Vice President Europe for Exploration & Production at TotalEnergies.

About Greater Ekofisk Area

The Greater Ekofisk Area comprises the producing fields Ekofisk, Eldfisk and
Embla in PL018, the Tor field (PL006) and the Tommeliten Alpha field (PL044).
Ekofisk was discovered in 1969 and the production started already in 1971.
Water injection started in 1987, Ekofisk II commenced in 1998 and a new plan
for development and operation was approved for the Eldfisk II Redevelopment
Project in 2011. The Ekofisk reservoirs consists of fractured chalk containing
mainly oil, similar to surrounding fields in the Greater Ekofisk Area. In
2022, the license period was extended from 2028 to 2048.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, biogas and low-carbon hydrogen, renewables and
electricity. Our more than 100,000 employees are committed to providing 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
this document are used to designate TotalEnergies SE and the consolidated
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
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
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).

TotalEnergies Contacts 

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