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REG-TotalEnergies SE TotalEnergies Has Definitively Withdrawn from Myanmar

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TotalEnergies Has Definitively Withdrawn from Myanmar

 

On January 21, 2022, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announced
its decision to withdraw from the Yadana field and from gas transportation
company MGTC in Myanmar, both as shareholder and as operator. In a context of
continuing deterioration of the human rights situation in Myanmar, this
decision resulted from the assessment that TotalEnergies was no longer able to
make a sufficiently positive contribution in the country, and was not able to
meet the expectations of stakeholders who were asking to stop the revenues
going to the Burmese state through the state-owned company MOGE from the
Yadana field production. In accordance with the contractual 6-month notice
period, this withdrawal becomes effective on this 20 July 2022. This
withdrawal was made in compliance with the European sanctions put in place in
February 2022.

Since January 2022, TotalEnergies has continued to act as a responsible
operator and has undertaken due diligence to ensure its withdrawal in a
responsible manner towards its stakeholders in Myanmar, including its
employees as well as the long-standing supported local communities. As such,
TotalEnergies worked closely with PTTEP, Thailand's national company, which
was appointed as the new operator by the project partners, to guarantee the
continuity and safety of production at the Yadana gas field while ensuring an
orderly transfer of operations.

All our employees in Myanmar were offered employment with the new operator,
under the same job and salary conditions, thus securing their professional
future. In addition, a complementary support agreement, through a contribution
to a dedicated fund, was also set up between TotalEnergies and PTTEP to
continue the historic economic development program with local communities in
the MGTC pipeline area.

As TotalEnergies definitively withdraws from Myanmar, our Company repeats its
condemnation of the abuses and human rights violations taking place in this
country and reaffirms its support to the people of Myanmar and its hope for a
swift return to peace and rule of law.

***

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 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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