REG-TotalEnergies SE Libya: TotalEnergies Increases its Interest in the Waha Concessions

TotalEnergies SEAnnouncement

15/11/2022 13:30

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Libya: TotalEnergies Increases its Interest in the Waha Concessions

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has completed the joint
acquisition with ConocoPhillips of the 8.16% interest held by Hess in the Waha
concessions, in Libya. As a result of this transaction, TotalEnergies’
interest in these concessions is increased from 16.33% to 20.41%.

This acquisition reflects TotalEnergies’ commitment to support Libya’s
National Oil Corporation (NOC) in its efforts to restore and increase the
country’s oil production, together with reducing gas flaring to increase
supply to power plants for additional electricity supply. TotalEnergies and
the NOC are also studying the development of dedicated solar projects to
supply electricity to Waha production sites.

In parallel, and in order to increase the country’s renewable electricity
supply, TotalEnergies has finalized with its partner Gecol the location and
commercial terms to launch a 500 MWp solar plant project South of Misrata.

“With nearly 70 years of presence in the country, TotalEnergies is firmly
committed to working alongside Libya’s National Oil Corporation to develop
the Waha fields, provide its expertise in reducing gas flaring and support the
country in its energy transition with the development of solar energy
projects,” said Patrick Pouyanné, Chairman and Chief Executive Officer of
TotalEnergies.

***

TotalEnergies in Libya

TotalEnergies has been present in Libya since 1954. In 2020, the Company’s
production was 84,000boe/d. This production comes from the offshore Al Jurf
field (TotalEnergies, 37.5%), the El Sharara onshore area (TotalEnergies, 15%
on block ex-NC 115 and 12% on Block ex-NC 186) and the Waha fields
(TotalEnergies, 16.33%, 20.41%, after the joint acquisition of Hess interest).

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies on a global scale: 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 more than 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.

TotalEnergies 

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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.
TotalEnergies SE has no liability for the acts or omissions of these 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 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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