REG-TotalEnergies SE South Africa: TotalEnergies Exits From Offshore Blocks 11B/12B and 5/6/7

TotalEnergies SEAnnouncement

29/07/2024 07:45

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South Africa: TotalEnergies Exits From Offshore Blocks 11B/12B and 5/6/7

 

Following the decision of the partner CNRI to withdraw from Block 11B/12B,
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) also announces its withdrawal
from this block, off the Southern coast of South Africa, in which its
affiliate TotalEnergies EP South Africa holds a 45% interest.

TotalEnergies entered into Block 11B/12B in 2013 and made two gas discoveries,
Brulpadda and Luiperd, which could however not be turned into a commercial
development as it appeared to be too challenging to economically develop and
monetize these gas discoveries for the South African market.

TotalEnergies has also decided to exit from offshore exploration Block 5/6/7
where TotalEnergies EP South Africa currently holds a 40% interest.

***

About TotalEnergies

TotalEnergies is a global integrated 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 provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

About TotalEnergies in South Africa

TotalEnergies has been present in South Africa since 1954, when it started
distributing petroleum products. Today the company is a leading player Fuel
Marketing & Services, Lubricants Blending, Exploration & Production
and Renewables. For seventy years, TotalEnergies has been committed to the
energy development of South Africa. Through a diverse portfolio, TotalEnergies
boasts a network of 550 retail sites and LPG distribution nationwide for all
domestic energy needs. TotalEnergies holds Exploration Rights together with
its various joint venture partners, over Blocks Deep Water Orange Basin and
Orange Basin Deep (west coast), Outeniqua South (south coast), and the recent
entry in Block 3B/4B east of DWOB. TotalEnergies is also developing a 700MW
portfolio of renewable energy projects in South Africa, including the 86MW
Prieska solar plant operational since 2016. In 2023, TotalEnergies signed
CPPAs with Sasol and Air Liquide for the supply of 260MW capacity (wind and
solar) and launched the construction of a 216MW solar plant with 500MWh
battery storage.

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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 

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



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