Latest news with #TotalEnergiesEP
IOL News
2 days ago
- Business
- IOL News
Western Cape High Court halts offshore drilling in landmark environmental ruling
The Western Cape High Court has halted offshore drilling in the South-West Coast known as Block 5/6/7, setting aside the environmental authorisation granted to TotalEnergies EP South Africa (Teepsa), which intended to transfer it to Shell. Image: Supplied The Western Cape High Court has halted offshore drilling in the South-West Coast known as Block 5/6/7, setting aside the environmental authorisation granted to TotalEnergies EP South Africa (Teepsa), which intended to transfer it to Shell. It is a landmark and victory for The Green Connection and Natural Justice, which found serious flaws in the environmental impact assessment (EIA). The matter under review was between The Green Connection and Natural Justice as applicants and the respondents being: Minister of Forestry, Fisheries and the Environment, Minister of Mineral Resources and Energy, Director General: Department of Mineral Resources and Energy, TotalEnergies EP South Africa block 567 (PTY) LTD, Shell Exploration & Production South Africa. On Wednesday, Judge Mangcu-Lockwood's judgment called for the Department of Minerals and Petroleum to conduct fresh assessments, gather more information, and facilitate public participation. This means that the South African government's approval of TotalEnergies EP South Africa's environmental authorisation to drill for oil and gas in offshore areas known as Block 5/6/7 along the South-West Coast has been set aside after it was challenged by the Green Connection and Natural Justice. Together they argued that the approvals were given without properly considering the risks to the environment, people's livelihoods, and South Africa's climate commitments. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ According to court papers, the review application concerns the granting of an environmental authorization ('the EA') to Total in terms of the National Environmental Management Act 107 of 1998 ('NEMA'), for the purpose of conducting exploration drilling to determine whether geological structures contain oil or gas - fossil fuels - in potentially extractable amounts. Mangcu-Lockwood ordered that the decision made by the Director General: Department of Mineral Resources and Energy on April 17 2023, granting environmental authorization to the fourth respondent (TotalEnergies EP) for exploratory operations in Block 5/6/7, is reviewed and set aside. It further stated that the fourth respondent must be given the opportunity to submit new or amended assessments, as deemed necessary, to address the deficiencies identified in the review including that a public participation process. Shahil Singh, Legal Advisor to The Green Connection, said the court found the Environmental Impact Assessment (EIA) failed to fully examine the consequences of a major oil spill on local and neighbouring coastal communities. 'Total and Shell will now need to undertake additional studies, make these plans publicly available, and properly assess both coastal and cross-border risks before any decision is taken,' said Singh. The Green Connection's Strategic Lead, Liziwe McDaid said in response to the order: 'Our country's laws demand full, open, and honest assessment, not partial studies, not secrecy, and not ignoring inconvenient truths. Natural Justice, Defending Rights Programme Manager, Melissa Groenink-Groves added: 'This judgment is a victory in the growing opposition to oil and gas exploration in our country. Recently, a number of oil and gas projects have been given Environmental Authorisation, but this judgment again confirms that companies must follow due process, undertake comprehensive assessments and provide communities with an opportunity to have their voices heard, in respect of all relevant information. It confirms that our fight for our environmental rights is strong, and that we must continue for the future for our children. Get your news on the go, click here to join the Cape Argus News WhatsApp channel. Cape Argus
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.
