REG-TotalEnergies SE Norway: TotalEnergies acquires a 40% interest in a CO2 Storage exploration license

TotalEnergies SEAnnouncement

22/08/2023 08:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230822:nBw363wRWa&default-theme=true


Norway: TotalEnergies acquires a 40% interest in a CO(2) Storage exploration
license

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement with
CapeOmega Carbon Storage AS, a wholly owned subsidiary of CapeOmega AS, to
acquire the 40% participating interest held by CapeOmega in the CO(2) storage
exploration license ExL004 (the “Luna” project).

Located 120 km offshore Bergen in 200 m water depth, ExL004 covers an area of
453 sq.km. It is adjacent to the license where the Northern Lights CO(2)
storage project (TotalEnergies, 33%) is under development, with a first phase
due to start in 2024.

ExL004 is operated by Wintershall DEA Norge AS with a 60% participating
interest. The transaction is subject to satisfaction of customary conditions,
including final approvals from relevant government authorities.

“This transaction is an important milestone to grow our CO(2) storage
offering: subject to a successful exploration, this area could enable the
storage of several hundred million tons of CO(2) from hard-to-abate industries
in Europe,” said Arnaud Le Foll, Senior Vice-President New Business - Carbon
Neutrality at TotalEnergies. “With the Northern Lights start-up in 2024 and
other projects under development in the Netherlands, Denmark and the UK,
TotalEnergies is building a world-class carbon storage portfolio across the
North Sea. Norway will play a leading role in this portfolio thanks to its
large geological storages and supportive government policies.”

* * *

About TotalEnergies and Carbon Storage

TotalEnergies’ focus is first to avoid emissions and then to reduce them by
developing and deploying a systematic approach, asset-by-asset, to implement
the best available technologies. For residual emissions, the Company is
developing industrial projects for carbon storage. Backed by core competencies
in large-scale project management, gas processing and geosciences,
TotalEnergies is on track to enable significant decarbonisation of European
businesses through projects such as Northern Lights in Norway, Aramis in the
Netherlands and Bifrost in Denmark.

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.

@TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=53543344&newsitemid=20230822369194&lan=en-US&anchor=%40TotalEnergies&index=1&md5=18d845b42d3bfa0e076187b5ae3733d5)
- TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftotalenergies%2F&esheet=53543344&newsitemid=20230822369194&lan=en-US&anchor=TotalEnergies&index=2&md5=cf439e44c9fa73cd7c7093a239115112)
- TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FTotalEnergiesFrance%2F&esheet=53543344&newsitemid=20230822369194&lan=en-US&anchor=TotalEnergies&index=3&md5=9fae0a74f61075029ae24f868adba9a7)
- TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Ftotalenergies%2F&esheet=53543344&newsitemid=20230822369194&lan=en-US&anchor=TotalEnergies&index=4&md5=1ac1bc3c820b228e1951cfc50977b2ec)

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 Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergiesPR&esheet=53543344&newsitemid=20230822369194&lan=en-US&anchor=%40TotalEnergiesPR&index=5&md5=be0b420eec6a2c021c16cde79e60c8aa)

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



View source version on businesswire.com:
https://www.businesswire.com/news/home/20230822369194/en/
(https://www.businesswire.com/news/home/20230822369194/en/)

Total


Copyright Business Wire 2023