REG-TotalEnergies SE Angola: TotalEnergies Sells a 40% Interest in Block 20 to Petronas Ahead of Its Development

TotalEnergies SEAnnouncement

28/09/2023 08:00

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Angola: TotalEnergies Sells a 40% Interest in Block 20 to Petronas Ahead of
Its Development

 

TotalEnergies SE (Paris:TTE) (LSE:TTE) (NYSE:TTE):

TotalEnergies EP Angola Block 20 has finalized the sale to PETRONAS ANGOLA
E&P LTD (PAEPL), a company belonging to the PETRONAS group of companies,
of a 40% interest in Block 20 in the Kwanza Basin in Angola. The transaction
was completed for an amount of $400 million as at January 1st, 2023, subject
to customary price adjustments.

TotalEnergies retains the operatorship and a 40% interest in Block 20,
alongside PAEPL (40%) and Sonangol Pesquisa e Produção S.A. (20%).

Block 20 contains the Cameia and Golfinho oil discoveries, located around 150
km southwest of Luanda. These discoveries are planned to be developed through
a system of subsea wells connected to a FPSO (Floating Production, Storage and
Offloading unit) with an oil production capacity of 70,000 barrels per day,
which will be the seventh FPSO developed by TotalEnergies in Angola. The
project will include the best available technologies to minimize greenhouse
gas emissions and the facilities will be designed for zero flaring, with the
associated gas entirely reinjected into the reservoirs.

“TotalEnergies is pleased to welcome Petronas, one of its strategic
partners, on Block 20 in the Kwanza basin. With Sonangol and Petronas, we have
established a solid partnership that will collectively enable us to take the
final investment decision for the development of the Cameia and Golfinho
fields, with the support of the Angolan authorities”, said Nicolas Terraz,
President, Exploration & Production at TotalEnergies.

***

About TotalEnergies in Angola

Present in Angola since 1953, TotalEnergies employs 1,500 people in different
business segments. With a diversified business portfolio, from deep offshore
assets that represents around half of the country’s oil production, service
stations in partnership with Sonangol and renewables, TotalEnergies in Angola
is a key actor for an equitable energy transition of the country.

About Block 20

Blocks 21/09 and 20/15 were merged into Block 20/11 ("Block 20") by
presidential decrees in July 2023.

About TotalEnergies

TotalEnergies is a global multi-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 energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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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 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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