TOTALENERGIES SE: Libya: TotalEnergies Strengthens Its Presence and Implements Its Multi-energy Strategy
23 Novembre 2021 - 8:50AM
UK Regulatory
TIDMTTE
During the Libya Energy & Economy Summit, the first economic
conference to take place in Libya in 10 years, initiated by the
Government of National Unity, TotalEnergies (Paris:TTE) (LSE:TTE)
(NYSE:TTE) signed with the Libyan authorities various agreements
for the sustainable development of the country's natural
resources.
These agreements aim to develop solar projects supplying
electricity to the Libyan people and to invest in projects reducing
gas flaring in oil fields in order to supply gas to power plants as
well as to contribute to the national goal of restoring the
country's oil production to 2 million barrels per day and supplying
world markets.
Among the signed agreements is a Memorandum of Understanding
between TotalEnergies and the General Electricity Company of Libya
for the development of solar photovoltaic projects with a total
capacity of 500 MW designed to supply electricity to the national
grid.
Additionally, the Council of Ministers of the Government of
National Unity approved the joint acquisition by TotalEnergies and
ConocoPhillips of the 8.16% interest held by Hess in the Waha
concessions, which will increase TotalEnergies' interest in these
concessions from 16.33% to 20.41%. During the conference,
TotalEnergies thus confirmed its willingness:
- to develop the production capacity of the Waha concessions,
notably the 100 kbpd North Gialo project, representing a $2 billion
investment,
- to invest in gas gathering projects to reduce flaring and
supply power plants in the region and using solar energy to power
Waha's industrial facilities.
"These agreements reflect TotalEnergies' willingness to
strengthen its investments in Libya's energy sector. We aim to
assist the country in building a more sustainable future through a
better use of the country's natural resources, including solar
energy, which will directly improve the accessibility of cleaner,
more reliable and more affordable electricity to the Libyan
people," said Patrick Pouyanné, Chairman & CEO of
TotalEnergies. "We are thus leveraging our leadership position in
the region, where the lowest-cost hydrocarbons are produced, to
pursue our development in renewable electricity. These agreements
further illustrate the sustainable development model of
TotalEnergies, a global multi-energy company that supports
producing countries in their energy transition."
***
TotalEnergies in Libya
TotalEnergies has been present in Libya since 1954. In 2020, the
Company's production was 43,000 boe/d. This production comes from
the offshore Al Jurf field (TotalEnergies, 37.5%), the El Sharara
onshore area (TotalEnergies, 15% on block ex-NC 115 and 12% on
Block ex-NC 186) and the Waha fields (TotalEnergies, 20.41%, after
the joint acquisition of Hess interest).
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPR
Investor Relations: +44 (0)207 719 7962 l
ir@totalenergies.com
@TotalEnergies l TotalEnergies l TotalEnergies l
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. TotalEnergies SE has no
liability for the acts or omissions of these 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 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).
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CONTACT:
TotalEnergies
SOURCE: TotalEnergies SE
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