TOTALENERGIES SE: Libya: TotalEnergies Increases its Interest in the Waha Concessions
November 15 2022 - 8:22AM
UK Regulatory
TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has completed the
joint acquisition with ConocoPhillips of the 8.16% interest held by
Hess in the Waha concessions, in Libya. As a result of this
transaction, TotalEnergies' interest in these concessions is
increased from 16.33% to 20.41%.
This acquisition reflects TotalEnergies' commitment to support
Libya's National Oil Corporation (NOC) in its efforts to restore
and increase the country's oil production, together with reducing
gas flaring to increase supply to power plants for additional
electricity supply. TotalEnergies and the NOC are also studying the
development of dedicated solar projects to supply electricity to
Waha production sites.
In parallel, and in order to increase the country's renewable
electricity supply, TotalEnergies has finalized with its partner
Gecol the location and commercial terms to launch a 500 MWp solar
plant project South of Misrata.
"With nearly 70 years of presence in the country, TotalEnergies
is firmly committed to working alongside Libya's National Oil
Corporation to develop the Waha fields, provide its expertise in
reducing gas flaring and support the country in its energy
transition with the development of solar energy projects," said
Patrick Pouyanné, Chairman and Chief Executive Officer of
TotalEnergies.
***
TotalEnergies in Libya
TotalEnergies has been present in Libya since 1954. In 2020, the
Company's production was 84,000boe/d. This production comes from
the offshore Al Jurf field (TotalEnergies, 37.5%), the El Sharara
onshore area (TotalEnergies, 15% on block ex-NC 115 and 12% on
Block ex-NC 186) and the Waha fields (TotalEnergies, 16.33%,
20.41%, after the joint acquisition of Hess interest).
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies on a global scale: 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.
TotalEnergies
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPR
Investor Relations: +44 (0)207 719 7962 l
ir@totalenergies.com
@TotalEnergies TotalEnergies TotalEnergies TotalEnergies
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. TotalEnergies SE has no
liability for the acts or omissions of these 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).
View source version on businesswire.com:
https://www.businesswire.com/news/home/20221115005980/en/
CONTACT:
TOTALENERGIES SE
SOURCE: TotalEnergies SE
Copyright Business Wire 2022
(END) Dow Jones Newswires
November 15, 2022 08:22 ET (13:22 GMT)
Totalenergies (LSE:TTE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Totalenergies (LSE:TTE)
Historical Stock Chart
From Jul 2023 to Jul 2024