Carnarvon said the investment gives it a stake in Strike’s “extensive and high-quality gas portfolio of production, development and exploration assets which requires access to capital to drive growth”. The investment will also give Carnarvon exposure to Western Australia’s domestic gas and electricity markets “at a time when gas and energy demand is increasing,” the company said.
TotalEnergies has agreed to acquire the 25 % interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, expanding its position in a basin the company already operates.
Devon separately said it will receive about $375 million in proceeds. “Proceeds from the divestiture will be used to further strengthen the company’s investment-grade financial position”, it said in its quarterly report. “The monetization of Devon’s equity ownership will not change the terms or conditions of the company’s secured capacity on the pipeline”.