Latest news with #TotalEnergiesEP
Yahoo
29-05-2025
- Business
- Yahoo
Nigeria: TotalEnergies Divests its Non-Operated Interest in the Bonga Field
PARIS, May 29, 2025--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC) for an amount of $ 510 million. OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boe/d in Company share in 2024. Completion of the transaction is subject to customary conditions, including regulatory approvals. "TotalEnergies continues to actively high-grade its Upstream portfolio, to focus on assets with low technical costs and low emissions, and to lower its cash breakeven" said Nicolas Terraz, President Exploration & Production at TotalEnergies. "In Nigeria, the Company is focusing on its operated gas and offshore oil assets and is currently progressing the development of Ubeta project, designed to sustain gas supply to Nigeria LNG." 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 with 209,000 boe/d produced in 2024. 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 integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing 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. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram 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. 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). View source version on Contacts TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@
Reuters
29-05-2025
- Business
- Reuters
TotalEnergies to sell Bonga field interest for $510 million
May 29 (Reuters) - French oil major TotalEnergies ( opens new tab on Thursday announced selling its participation in the Bonga oil field to a subsidiary of Shell (SHEL.L), opens new tab in Nigeria. TotalEnergies EP Nigeria will divest its non-operated 12.5% interest for $510 million, the group said in a statement. "TotalEnergies continues (...) to focus on assets with low technical costs and low emissions, and to lower its cash breakeven" said Nicolas Terraz, President Exploration & Production at TotalEnergies.
Yahoo
29-05-2025
- Business
- Yahoo
Nigeria: TotalEnergies Divests its Non-Operated Interest in the Bonga Field
PARIS, May 29, 2025--(BUSINESS WIRE)-- TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces that its subsidiary TotalEnergies EP Nigeria (TEPNG) signed an agreement with Shell Nigeria Exploration and Production Company Ltd (SNEPCo) for the sale of its non-operated 12.5% interest in the OML118 Production Sharing Contract (PSC) for an amount of $ 510 million. OML118 PSC is operated by SNEPCo (55%), in partnership with Esso Exploration and Production Nigeria (20%), TotalEnergies EP Nigeria (12.5%), and Nigerian Agip Exploration (12.5%). Located deep offshore at 120 km south of the Niger Delta in Nigeria, it contains the Bonga field, which started production in 2005, as well as the Bonga North field, the development of which started in 2024. Production from the OML 118 PSC, which is mainly oil, represents approximately 11,000 boe/d in Company share in 2024. Completion of the transaction is subject to customary conditions, including regulatory approvals. "TotalEnergies continues to actively high-grade its Upstream portfolio, to focus on assets with low technical costs and low emissions, and to lower its cash breakeven" said Nicolas Terraz, President Exploration & Production at TotalEnergies. "In Nigeria, the Company is focusing on its operated gas and offshore oil assets and is currently progressing the development of Ubeta project, designed to sustain gas supply to Nigeria LNG." 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 with 209,000 boe/d produced in 2024. 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 integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing 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. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram 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. 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 Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@ View source version on Contacts TotalEnergies Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Iraq Business
22-04-2025
- Business
- Iraq Business
Wood selected by TotalEnergies to advance Ratawi Field Redevelopment
Wood selected by TotalEnergies to advance Ratawi field redevelopment in Iraq, as part of the Gas Growth Integrated Project Wood, a global leader in consulting and engineering, has been awarded two new engineering and procurement framework agreements worth $11 million by TotalEnergies EP Ratawi Hub as part of the Gas Growth Integrated Project (GGIP) , a multi-energy project designed to enhance the development of Iraq's natural resources and improve the country's electricity supply at the Ratawi field in Iraq. Each of the new contracts has a three-year term under which Wood will support TotalEnergies to advance the Associated Gas Upstream Project (AGUP) , a key part of the GGIP project. The aim is to debottleneck and upgrade existing facilities to increase energy production capacity to 120,000 barrels of oil per day on completion of the first phase. Shaun Dewar, Senior Vice President of Operations, Middle East and Africa at Wood said: " We have an extensive track record in brownfield facility modifications and are committed to delivering safe, quality and innovative outcomes for TotalEnergies. Wood has supported the Ratawi field since 2023. "We have held six recruitment days, hiring 70 Iraqis to work at the Ratawi operations hub across a range of disciplines including HSE, logistics, quality, construction, welding, electrical and document control. " The contracts will be delivered by Wood's teams in Basra and the United Arab Emirates, creating additional roles as the scopes progress. Wood currently employs over 4,000 people across the Middle East, having increased its headcount by 500 in 2024. Wood is already providing engineering design, detailed design, procurement support and construction and commissioning assistance for the first phase of the AGUP. Learn more about Wood in Iraq.
Trade Arabia
21-04-2025
- Business
- Trade Arabia
Wood to advance Ratawi field redevelopment in Iraq
Wood has been awarded two new engineering and procurement framework agreements worth $11 million by TotalEnergies EP Ratawi Hub as part of the Gas Growth Integrated Project (GGIP), a multi-energy project designed to enhance the development of Iraq's natural resources and improve the country's electricity supply at the Ratawi field in Iraq. Each of the new contracts has a three-year term under which Wood will support TotalEnergies to advance the Associated Gas Upstream Project (AGUP), a key part of the GGIP project. The aim is to debottleneck and upgrade existing facilities to increase energy production capacity to 120,000 barrels of oil per day on completion of the first phase. Shaun Dewar, Senior Vice President of Operations, Middle East and Africa at Wood said: 'We have an extensive track record in brownfield facility modifications and are committed to delivering safe, quality and innovative outcomes for TotalEnergies. Wood has supported the Ratawi field since 2023. 'We have held six recruitment days, hiring 70 Iraqis to work at the Ratawi operations hub across a range of disciplines including HSE, logistics, quality, construction, welding, electrical and document control.' The contracts will be delivered by Wood's teams in Basra and the UAE, creating additional roles as the scopes progress. Wood currently employs over 4,000 people across the Middle East, having increased its headcount by 500 in 2024.
