REG-TotalEnergies SE South Africa: TotalEnergies Expands Its Presence in the Orange Basin With a New Offshore Exploration License

TotalEnergies SEAnnouncement

06/03/2024 07:30

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South Africa: TotalEnergies Expands Its Presence in the Orange Basin With a
New Offshore Exploration License

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed, together with its
partner QatarEnergy, an agreement to acquire participating interests in Block
3B/4B, offshore South Africa, from Africa Oil South Africa, Azinam (a wholly
owned subsidiary of Eco Atlantic Oil and Gas) and Ricocure.

Following completion of the transaction, TotalEnergies will hold a 33%
participating interest in Block 3B/4B and assume operatorship, while
QatarEnergy will hold a 24% interest.

The remaining interests will be held by existing license holders, Africa Oil
SA (17%), Ricocure (19.75%) and Azinam (6.25%). The transaction is subject to
final approvals from relevant authorities.

Located within the prolific Orange basin, 200 km off the western coast of
South Africa, Block 3B/4B covers an area of 17,581 km(2). Block 3B/4B is
adjacent to the DWOB license operated by TotalEnergies (50%) alongside
QatarEnergy (30%) and Sezigyn (20%).

“Following the Venus success in Namibia, TotalEnergies is continuing to
progress its Exploration effort in the Orange Basin, by entering this
promising exploration license in South Africa”, said Kevin McLachlan, Senior
Vice-President Exploration of TotalEnergies.

***

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 in
Renewables, Fuel Marketing & Services, Lubricant Blending, Refining and
Exploration & Production. For more than fifty years we have been committed
to the energy development of South Africa. Through a diverse portfolio,
TotalEnergies boasts a network of 550 retail sites, LPG distribution
nationwide for all domestic energy needs, solar and wind renewable energies,
including the Prieska solar power plant, which has been supplying more than
70,000 homes with electricity since 2016. TotalEnergies will also develop a
120 MW solar plant and a 140 MW wind farm in the Northern Cape province to
supply green electricity to the Sasol’s Secunda site, where Air Liquide
operates the biggest oxygen production site in the world. Notably, 260 MW is
equivalent to a quarter of an average nuclear power plant, and lastly
TotalEnergies in South Africa, through its EP segment and together with its
various joint venture partners, holds Exploration Rights over four offshore
Blocks: Block 5/6/7 (south-west coast), Block Deep Water Orange Basin (west
coast), Orange Basin Deep (west coast), Outeniqua South (south coast) for
exploration & well drilling of hydrocarbon, and has applied for a
Production Right (PR) over Block 11B/2B (south coast).

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, 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.

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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

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