TotalEnergies Sells Its Subsidiary in Brunei
14 Juin 2024 - 5:45AM
Business Wire
Regulatory News:
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.
TotalEnergies EP (Brunei) B.V. owns and operates a 37.5%
interest in Block B, alongside Shell Deepwater Borneo (35%) and
Brunei Energy Exploration (27.5%).
Block B, located 85 kilometers off the coast of Brunei, contains
the Maharaja Lela/Jamalulam (MLJ) field, which started producing in
1999 and represented a net production for TotalEnergies of
approximately 9,000 barrels of oil equivalent per day in 2023.
“This transaction fits with our strategy to actively manage our
portfolio by monetizing mature assets and to allocate our talents
to the most promising assets”, said Jean-Pierre Sbraire, Chief
Financial Officer of TotalEnergies.
About TotalEnergies
TotalEnergies is a global integrated energy company that
produces and markets energies: oil and biofuels, natural gas and
green gases, renewables and electricity. Our more than 100,000
employees are committed to provide 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.
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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).
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