REG-TotalEnergies SE Namibia: TotalEnergies Increases Its Interests in Offshore Blocks 2913B and 2912

TotalEnergies SEAnnouncement

10/01/2024 07:30

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Namibia: TotalEnergies Increases Its Interests in Offshore Blocks 2913B and
2912

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement to
acquire from Impact Oil and Gas Namibia (Pty) Ltd (“Impact”) an additional
10.5% participating interest in block 2913B and an additional 9.39%
participating interest in block 2912, both operated by TotalEnergies in
Namibia. TotalEnergies’ intention is to share this additional participating
interest with its strategic partner and joint venture member QatarEnergy.

After completion of these transactions, which will be subject to customary
third-party approvals from the Namibian authorities and joint venture parties,
TotalEnergies would own a 45.25% interest in block 2913B containing the Venus
discovery, and a 42.5% interest in block 2912. Impact will retain a 9.5%
interest in each license.

As per this agreement, Impact will be reimbursed for the past costs incurred
for these interests, through a $99 million payment at closing. Impact will
also be carried for its remaining interests until Impact receives the first
sales proceeds from hydrocarbon production, secured via a repayment mechanism
based on Impact’s share of production.

“This transaction not only increases our share in the Venus discovery and
remaining prospectivity on these blocks, but also represents a key step toward
the development of Venus by consolidating the partnership and securing
financing of all partners which will add value to all stakeholders”, said
Patrick Pouyanné, Chairman and Chief Executive Officer at TotalEnergies.

***

About TotalEnergies in Namibia

TotalEnergies has been present in Namibia since 1964 and employs 55 people.
TotalEnergies operates two offshore exploration licenses in the Orange basin:
Blocks 2912 and 2913B. TotalEnergies is also the 4(th) largest fuel
distributor in the country, with 40 service stations. In line with its
multi-energy strategy, the Company is looking for local opportunities to
develop low carbon projects in the country.

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, more sustainable, 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.

TotalEnergies Contacts

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

@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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