TotalEnergies acquires 25% interest in 40 US offshore exploration blocks
TotalEnergies has acquired a 25% working interest in a portfolio of offshore exploration leases in the US from Chevron.
The deal encompasses 40 Outer Continental Shelf (OCS) federal leases covering an area of approximately 1,000km², located between 175km and 330km from the shore.
The acquired leases include 13 blocks in the Walker Ridge area, nine in the Mississippi Canyon and 18 in the East Breaks area.
This deal grants access to several offshore exploration opportunities and prospects for TotalEnergies, further enhancing its US offshore partnership with Chevron.
This collaboration goes beyond existing ventures such as Ballymore (where TotalEnergies holds a 40% stake and which began production this year), Anchor (with a 37.14% stake and production starting last year), as well as the producing assets Jack (25% stake) and Tahiti (17% stake).
TotalEnergies Exploration senior vice-president Kevin McLachlan said: “This transaction is in line with our consistent strategy of filling our exploration portfolio with low-cost and low-emissions options, and will significantly expand TotalEnergies’ offshore US exploration acreage, combining a wide range of geological plays and prospectivity.
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Building on the momentum of the recent Ballymore and Anchor start-ups, we are very pleased to expand our successful partnership with Chevron, and we expect to mature exploration drill decisions on these blocks utilising advanced 3D imaging technology to unlock large remaining US offshore production potential.”
This week, TotalEnergies also announced the acquisition of interests in several offshore blocks in Malaysia and one block in Indonesia from Petronas.
These licences cover more than 100,000km² and are at various stages of development.
In May, the company entered into a sales and purchase agreement with Ksi Lisims LNG to purchase two million tonnes per annum of liquefied natural gas (LNG) for a duration of 20 years.
Sign up for our daily news round-up!
Give your business an edge with our leading industry insights.
Content Original Link:
" target="_blank">
