REG-TotalEnergies SE Azerbaijan: TotalEnergies Sells a 15% Interest in Absheron Gas Field to ADNOC

TotalEnergies SEAnnouncement

04/08/2023 07:30

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Azerbaijan: TotalEnergies Sells a 15% Interest in Absheron Gas Field to ADNOC

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SOCAR (State
Oil Company of the Republic of Azerbaijan) have signed an agreement to sell a
15% participating interest each in the Absheron gas field to ADNOC (Abu Dhabi
National Oil Company).

After completion of this transaction, which is subject to the approval by the
relevant authorities, TotalEnergies will own a 35% interest in Absheron gas
field, alongside SOCAR (35%) and ADNOC (30%).

Absheron gas and condensate field is located in the Caspian Sea and operated
by JOCAP (Joint Operating Company of Absheron Petroleum).

“TotalEnergies is pleased to welcome ADNOC, one of its strategic partners,
into the Absheron gas field, where production of the first phase started in
early July, and which offers a significant further development potential to
meet the growing gas demand”, said Nicolas Terraz, President, Exploration
& Production at TotalEnergies.

***

About TotalEnergies in Azerbaijan

TotalEnergies has been present in Azerbaijan since 1996, where it is a 50%
partner of SOCAR in the Absheron gas and condensate field and holds a 5% stake
in the Baku-Tbilisi-Ceyhan (BTC) pipeline.

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 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 

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