on TOTALENERGIES (EPA:TTE)
TotalEnergies Withdraws from South African Offshore Blocks
Paris, July 29, 2024 - TotalEnergies has announced its decision to exit from offshore Block 11B/12B following the withdrawal of its partner CNRI. The block is located off the southern coast of South Africa, where TotalEnergies EP South Africa held a 45% interest.
TotalEnergies initially entered Block 11B/12B in 2013 and reported two gas discoveries, Brulpadda and Luiperd. These discoveries, however, could not be developed into commercial projects due to economic challenges in monetizing the gas for the South African market.
Additionally, TotalEnergies has decided to exit from Block 5/6/7, where it held a 40% interest through its affiliate, TotalEnergies EP South Africa.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all TOTALENERGIES news