TotalEnergies announced withdrawal from the North Platte Deep Water Project where it holds 60% operated interest

TotalEnergies announced withdrawal from the North Platte Deep Water Project where it holds 60% operated interest

(PRESS RELEASE) PARIS, 10-Feb-2022 — /EuropaWire/ — TotalEnergies (EPA:TTE), one of the seven “supermajor” oil companies, has announced its withdrawal, as a result of its decision not to sanction, from the North Platte Deep Water Project in the US Gulf of Mexico where it holds 60% operated interest through its affiliate TotalEnergies E&P USA, Inc.

The decision not to continue with the project was taken as the Company has better opportunities of allocation of its capital within its global portfolio.

TotalEnergies who held a 60% operated interest in North Platte, alongside its joint-interest owner Equinor (40%) has duly notified its partner and the relevant authorities of its immediate withdrawal from the project, and of its resignation as operator which will be effective following a short transition period to ensure an orderly hand-over of operatorship.

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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. 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).

SOURCE: TotalEnergies