REG-TotalEnergies SE TotalEnergies Sells Its Subsidiary in Brunei

TotalEnergies SEAnnouncement

14/06/2024 04:45

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TotalEnergies Sells Its Subsidiary in Brunei

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has entered into an agreement
to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus
Petroleum Berhad, a Malaysian independent oil and gas exploration and
production company, for a consideration of $259 million. The transaction is
expected to close in the fourth quarter 2024.

TotalEnergies EP (Brunei) B.V. owns and operates a 37.5% interest in Block B,
alongside Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%).

Block B, located 85 kilometers off the coast of Brunei, contains the Maharaja
Lela/Jamalulam (MLJ) field, which started producing in 1999 and represented a
net production for TotalEnergies of approximately 9,000 barrels of oil
equivalent per day in 2023.

“This transaction fits with our strategy to actively manage our portfolio by
monetizing mature assets and to allocate our talents to the most promising
assets”, said Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.

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.

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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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