REG-TotalEnergies SE Nigeria: TotalEnergies Renews the OML130 Deep Offshore License

TotalEnergies SEAnnouncement

30/05/2023 07:00

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Nigeria: TotalEnergies Renews the OML130 Deep Offshore License

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), operator of OML130 in Nigeria,
announces the renewal of the production license on this block for 20 years.

Located 150 kilometers off the Nigerian coast, the OML130 block contains the
prolific Akpo and Egina fields which came into production in 2009 and 2018
respectively. In 2022, production amounted to 282,000 boe/d: nearly 30% was
gas sent to the Nigeria LNG plant, notably contributing to Europe’s energy
security. The production start-up from Akpo West, a short-cycle project, is
expected by the end of 2023. In addition, OML130 contains the Preowei
discovery, to be developed by tie-back to the Egina FPSO.

“Through the OML130 license renewal, TotalEnergies is pleased to continue
its contribution to the development of Nigeria’s oil and gas sector. This
20-year extension will enable us to move forward with the FEED studies on the
Preowei tie-back project which aims to valorize a discovery using existing
facilities in line with Company’s strategy focusing on low-cost and
low-emission assets”, said Henri-Max Ndong-Nzue, Senior Vice President
Africa, Exploration and Production at TotalEnergies.

TotalEnergies Upstream Nigeria Limited operates OML 130 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. The Company
produced 204,000 boe/d in 2022 in the country, making it one of the largest
contributors to TotalEnergies’ hydrocarbon production. Its participation in
Nigeria LNG, where construction of a 7(th) train is in progress, contributes
to the Company’s global LNG portfolio. 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 Nigeria 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, cleaner, 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).

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