TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has entered into an agreement to sell its wholly-owned subsidiary TotalEnergies EP (Brunei) B.V. to Hibiscus Petroleum Berhad, a Malaysian independent oil and gas exploration and production company, for a consideration of $259 million. The transaction is expected to close in the fourth quarter 2024.
Oil and gas supermajor TotalEnergies has announced that it will invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024. The investment will be used to finance exploration and maintain production in the country’s deep offshore Moho Nord field, which accounts for approximately half of all Congolese oil production, or roughly 140,000 bpd.
At the Clean Cooking Summit organized by the International Energy Agency (IEA), TotalEnergies announced its ambition of giving 100 million people in Africa and India access to clean cooking by 2030. TotalEnergies will therefore invest more than $400 million in the development of liquefied petroleum gas (LPG) for cooking.
The approval has been granted for offshore oil block S-4, which was offered as part of the auction initiated in September 2023.
This follows the prime minister’s meeting with TotalEnergies CEO Patrick Pouyanne on the sidelines of the World Economic Forum Special Meeting in Riyadh, Saudi Arabia.
UK-headquartered oil and gas company Trident Energy has expanded its footprint on Africa’s oil and gas scene by inking strategic agreements with two oil majors, the U.S.-based Chevron and France’s TotalEnergies, which enable it to get its hands on offshore acreage in the Republic of Congo.
TotalEnergies SE is acquiring the remaining 50 percent stake in Malaysian independent gas producer and operator SapuraOMV Upstream Sdn from Sapura Upstream Assets Sdn Bhd (SUA) for $530 million.
TotalEnergies EP Uganda (TEPU) is establishing a new benchmark for sustainable energy practices as Uganda approaches its oil production phase. This was disclosed by the Company’s General Manager, Philippe Groueix, during his address at the ongoing 9th Oil and Gas Convention in Kampala. Groueix emphasized to the energy experts gathered at the Serena Hotel the importance of pursuing a just energy transition.
TotalEnergies and SONATRACH have signed a Memorandum of Understanding to conclude an oil and gas contract in the north-east Timimoun region, under the aegis of Law n°19-13 governing oil and gas activities.
TotalEnergies has agreed to acquire the 20% interest held by Lewis Energy Group in the Dorado leases operated by EOG Resources (80%) in the Eagle Ford shale gas play, increasing its natural gas production capacity in Texas and further strengthening its business integration in the U.S. LNG value chain.