REG-TotalEnergies SE TotalEnergies SE: Nigeria: Production commences at the Akpo West field

TotalEnergies SEAnnouncement

07/02/2024 08:00

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TotalEnergies SE: Nigeria: Production commences at the Akpo West field

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partners announce the
start of production from the Akpo West field on the PML2 license in Nigeria.

Located 135 kilometers off the coast, Akpo West is tied back to the existing
Akpo Floating Production Storage and Offloading (FPSO) facility, which
started-up in 2009 and produced 124,000 barrels of oil equivalent per day in
2023. By mid-2024, Akpo West will add 14,000 barrels of condensate production
per day, to be followed by up to 4 million cubic meters of gas per day by
2028.

The Akpo West development leverages the existing Akpo facilities to keep costs
low and minimize greenhouse gas emissions. The project’s carbon intensity is
expected to be below 5 kg CO(2)e/boe and will contribute to reduce the average
carbon intensity of TotalEnergies’ portfolio.

“After Ikike in 2022, TotalEnergies is pleased to start production of
another tie-back project in Nigeria, Akpo West, which will contribute to
maintaining the production of the existing Akpo facilities by developing
additional nearby resources. This project fits the Company’s strategy of
developing low-cost and low-emission projects”, said Mike Sangster, Senior
Vice President Africa, Exploration and Production at TotalEnergies. “This
project leverages TotalEnergies’ solid footprint in Nigeria and will quickly
bring value to the country, TotalEnergies and its partners.”

TotalEnergies is the operator of PML2 with a 24% interest, in partnership with
CNOOC (45%), Sapetro (15%), Prime 130 (16%) and the Nigerian National
Petroleum Company Ltd as the concessionaire of the PSC.

***

About TotalEnergies in Nigeria 

TotalEnergies has been present in Nigeria for more than 60 years and employs
today more than 1,800 people across different business segments. Nigeria is
one of the main contributing countries to TotalEnergies’ hydrocarbon
production where the Company produced 219,000 boe/d in 2023. TotalEnergies
also operates an extensive distribution network which includes about 540
service stations in the country. In all its operations, TotalEnergies is
particularly attentive to the socio-economic development of the country and is
committed to working with local communities.

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 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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