REG-TotalEnergies SE TotalEnergies - Angola: Start-up of BEGONIA and CLOV Phase 3 Offshore Projects

TotalEnergies SEAnnouncement

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TotalEnergies - Angola: Start-up of BEGONIA and CLOV Phase 3 Offshore Projects


 * TotalEnergies announces the start of production from the BEGONIA and CLOV
Phase 3 projects, adding a total of 60,000 barrels per day of production
offshore Angola.

 * Low cost, low emissions projects leveraging existing facilities.

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the start of
production from the BEGONIA and CLOV Phase 3 offshore projects, leveraging
ullage in the PAZFLOR and CLOV floating production, storage and offloading
units (FPSO) to add a total of 60,000 barrels a day of new production.

These two subsea tie-back projects deliver additional production leveraging
available capacity on existing FPSO’s and as such have low marginal costs
and low carbon intensities.

BEGONIA, the first development on Block 17/06

TotalEnergies (30%, operator) announces the start of production from BEGONIA,
the first inter-block development in Angola. A project made possible thanks to
good cooperation between the Angolan concession holder Agencia Nacional de
Petróleo, Gás e Biocombustíveis (ANPG), the partners of the block 17/06,
Sonangol E&P (30%), SSI (27,5%), ETU Energias (7.5%), Falcon Oil (5%), and
the partners of block 17 also operated by TotalEnergies.

Located 150 kilometers off the Angolan coast, BEGONIA is a 30,000 barrels per
day project consisting of five wells subsea tied back to the PAZFLOR FPSO.

CLOV Phase 3, continued upsides on Block 17

TotalEnergies (38%, operator) also announces the first oil from CLOV Phase 3
in Block 17, in agreement with ANPG and its partners Equinor (22,16%),
ExxonMobil (19%), Azule Energy (15.84%) and Sonangol E&P (5%).

Located 140 kilometers from the Angolan coast, CLOV Phase 3 is a 30,000
barrels per day project consisting of four wells subsea tie-back to the CLOV
FPSO.

“TotalEnergies, operator of Block 17 and 17/06, continues to actively
deliver its low-cost and low-emissions developments to grow its upstream
production by more than 3% in 2025,” stated Nicolas Terraz, President
Exploration & Production at TotalEnergies. “With BEGONIA and CLOV Phase
3, we are leveraging available production capacity in existing FPSOs of Block
17 (PAZFLOR and CLOV) while reducing costs and emissions.”

“Good news for the country, as those two First Oils will help Angola
maintain its production levels above 1 million baril per day. BEGONIA is the
first project between Blocks in Angola with a significant component of Local
Content and CLOV 3 is a great achievement resulting from intense work between
the concessionaire and the B17 contractor group, operated by TotalEnergies.
Projects like these are extremely important as they prove the innovative
spirit and dynamism of the oil sector in Angola,” declared Paulino
Jerónimo, Chairman of the Board of Directors of the National Agency for
Petroleum, Gas and Biofuels.

***

About TotalEnergies in Angola

TotalEnergies has been present in Angola since 1953 and today employs around
1,500 people across different business segments. With a diversified portfolio,
deep offshore operated assets representing more than 45% of the country’s
oil production, service stations in partnership with Sonangol and renewable
energy projects, TotalEnergies in Angola is a key player in supporting the
country’s sustainable energy transition.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
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.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
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entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
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SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
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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
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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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