REG-TotalEnergies SE Nigeria: TotalEnergies Makes Oil and Gas Discovery in Offshore OML 102

TotalEnergies SEAnnouncement

13/06/2023 09:45

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Nigeria: TotalEnergies Makes Oil and Gas Discovery in Offshore OML 102

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the Ntokon oil and
gas discovery on OML102 offshore Nigeria.

Located in shallow waters, 60 km off the southeast coast of Nigeria, the
Ntokon-1AX discovery well encountered 38 meters of net oil pay and 15 meters
of net gas pay, while its side-track Ntokon-1G1 encountered 73 meters of net
oil pay, in well-developed and excellent quality reservoirs. Ntokon-1G1 tested
successfully up to a maximum rate of about 5,000 barrels per day of 40° API
oil.

Located 20 km from the Ofon field facilities on OML102, Ntokon is planned to
be developed through a tie-back to these existing facilities.

“The Ntokon discovery opens a promising outlook for a new tie-back
development’’, said Nicolas Terraz, President, Exploration &
Production at TotalEnergies. “After the start-up of production of the Ikike
tie-back on OML99 in 2022, this new success in the area further demonstrates
the potential of nearby exploration to create value within our low cost, low
emission strategy”.

OML 102 is operated by TotalEnergies EP Nigeria with a 40% interest, alongside
partner NNPC Ltd with the remaining 60%.

***

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).

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