TotalEnergies Acquires Stake in Suriname Offshore to Expand Gran Morgu Project
French oil and gas company TotalEnergies has announced the acquisition of a 25% stake in Block 53 on the Surinamese offshore shelf from Spanish company Moeve, Reuters reports. The value of the deal was not disclosed. This transaction strengthens the presence of the French energy giant in one of the …
TotalEnergies to Acquire a Stake in Chevron’s Offshore Asset Portfolio in the U.S.
French energy company TotalEnergies is acquiring a 25% working interest in Chevron’s U.S. offshore exploration asset portfolio, according to the company’s statement. “TotalEnergies announces the acquisition of a 25% working interest in a portfolio of exploration blocks on the U.S. offshore shelf from Chevron (the operator),” the release states. The …
TotalEnergies Sells Its Stake in Nigeria’s Bonga Field Development Project to Shell
TotalEnergies EP Nigeria (TEPNG), a subsidiary of France’s TotalEnergies, has signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo), a subsidiary of Shell, to sell its 12.5% stake in the Production Sharing Contract (PSC) for OML 118. This information comes from a joint statement by the companies. …
France’s TotalEnergies Produces First Oil from Mero-4 Field in Brazil
French energy company TotalEnergies has announced the first oil production from the fourth development phase of the Mero field, located in the Libra block, approximately 180 kilometers off the coast of Rio de Janeiro, in the pre-salt zone of the Santos Basin, Brazil. Launched in August 2021, the new phase—known …
Wood Mackenzie Forecasts Continued Growth in the Permian Basin in the United States
One of the world’s largest oil provinces—the leading shale basin in the United States—continues to ramp up production. According to Wood Mackenzie analysts, crude oil and condensate production in the basin is expected to increase by 200,000 barrels per day this year, reaching 6.6 million barrels per day, despite operators …
TotalEnergies Is Withdrawing from Africa
The French company TotalEnergies has announced the sale of two oil fields in Nigeria, the leader among African countries in the export of this fuel. We are talking about the Olo and Olo West blocks, which she developed jointly with the Nigerian National Oil Company, Agence Ecofin reported. According to …
Libya Has Limited Production at Its Largest Oil Field Due to Instability
In Libya, oil production was partially stopped at the country‘s largest Sharara field on August 4 due to unauthorized entry. The maximum capacity of Sharara is 320 thousand barrels per day. According to S&P Global Commodity Insights, production losses now range from 28-70 thousand b/s. Sharara is a joint project …
TotalEnergies Sells Stake in Nigerian JV for $860 Million
French energy company TotalEnergies is selling its 10% stake in a joint venture (JV) in Nigeria to Chappal Energies for $860 million, according to a TotalEnergies press release. “TotalEnergies announces that its subsidiary TotalEnergies EP Nigeria has signed a sale and purchase agreement with Chappal Energies for the sale of …
TotalEnergies to remain in South African offshore gas projects
According to estimates, the development of the Brulpadda field requires investments of $3 billion. The South African authorities have received assurances from the French energy group TotalEnergies that it will not withdraw from projects to develop large natural gas fields on the country’s southern shelf. This was reported by the …
SLB and TotalEnergies Announce 10-Year Partnership to Collaborate on Next-Generation Digital Solutions
SLB and TotalEnergies announced a 10-year partnership to co-develop scalable digital solutions for enabling access to energy resources, with improved performance and efficiency. The partnership establishes a flexible framework for the companies to work together on addressing key challenges across the energy value chain, including carbon capture, utilization, and sequestration …