REG-TotalEnergies SE Oman: TotalEnergies is Rolling Out its Integrated Gas Strategy

TotalEnergies SEAnnouncement

20/01/2023 10:30

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Oman: TotalEnergies is Rolling Out its Integrated Gas Strategy

 

In line with its growth strategy in gas and LNG, a fuel contributing to the
energy transition, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces
the start of gas production from onshore Block 10 in the Sultanate of Oman as
well as an agreement with Oman LNG for a long-term LNG purchase contract.

Start of gas production from Block 10

TotalEnergies announces the start of gas production from the Mabrouk
North-East field in the onshore Block 10. TotalEnergies holds a 26.55%
interest in Block 10, with OQ holding 20% and Shell, operator, holding 53.45%.

Gas production is expected to reach 500 million standard cubic feet per day by
mid-2024. The produced gas will supply the Omani gas network, feeding both
local industry and LNG export facilities. This production start-up follows the
signing of the concession agreement in December 2021.

Long-term LNG purchase contract

TotalEnergies has also signed an agreement with Oman LNG for the purchase of
0.8 million metric tons of LNG per year over a period of ten years starting
from 2025.

This new contract will contribute to TotalEnergies' LNG integrated portfolio
and reinforce its flexibility, by allowing to address both the European and
Asian markets. This LNG will contribute to the reduction of emissions into the
atmosphere since it will allow the electric utilities who purchase this gas to
substitute it for coal, thus avoiding CO(2) emissions (a natural gas power
plant releases about half as much CO(2) as a coal power plant).

“These announcements are consistent with the ambition of TotalEnergies to
contribute to the energy transition and reinforce its long-standing
partnerships with both Oman LNG and the Omani State”, said Patrick
Pouyanné, Chairman and CEO of TotalEnergies. “TotalEnergies deploys in Oman
its multi-energy strategy in oil, gas and renewables and so participates in
the sustainable development of the country’s natural resources.”

TotalEnergies has recently signed 30 MW of Solar projects in Oman including a
project to supply Sharqiyah Desalination Company (17 MW), in joint-venture
with Veolia.

***

About TotalEnergies in Oman

In 2022, TotalEnergies’ production in Oman was 40 kboe/d.

TotalEnergies produces oil in Block 6 (4%), as well as LNG through its
participation in the Oman LNG (5.54%)/Qalhat LNG (2.04% via Oman LNG)
liquefaction complex with an overall capacity of 11.4 Mt/y. In 2021
TotalEnergies signed a Concession Agreement to develop natural gas resources
on onshore Block 10 (26,55%) and in 2022 TotalEnergies signed an Exploration
and Production Sharing Agreement (EPSA) to appraise Block 11 (22.5%).
TotalEnergies also operates exploration Block 12 (80%) and contributes to the
development of renewables in the country.

TotalEnergies, the world’s third largest LNG player

TotalEnergies is the world’s third largest LNG player with a market share of
around 10% and a global portfolio of about 40 Mt/y thanks to its interests in
liquefaction plants in all geographies. The Company benefits from an
integrated position across the LNG value chain, including production,
transportation, access to more than 20 Mt/y of regasification capacity in
Europe, trading, and LNG bunkering. TotalEnergies’ ambition is to increase
the share of natural gas in its sales mix to 50% by 2030, to reduce carbon
emissions and eliminate methane emissions associated with the gas value chain,
and to work with local partners to promote the transition from coal to natural
gas.

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 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.

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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 Contacts

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