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TotalEnergies and SOCAR Divest Stake in Absheron Gas Field to ADNOC


TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SOCAR (State Oil Company of the Republic of Azerbaijan) have reached an agreement to divest a 15% participating interest each in the Absheron gas field to ADNOC (Abu Dhabi National Oil Company).

The Absheron gas and condensate field, operated by JOCAP (Joint Operating Company of Absheron Petroleum), is situated in the Caspian Sea.

“TotalEnergies is delighted to welcome ADNOC, one of our strategic partners, to the Absheron gas field. With the commencement of first-phase production in early July, the field showcases significant potential for further development to meet the growing demand for gas,” expressed Nicolas Terraz, President of Exploration & Production at TotalEnergies.

About TotalEnergies in Azerbaijan

TotalEnergies has been present in Azerbaijan since 1996. It holds a 50% partnership with SOCAR in the Absheron gas and condensate field and possesses a 5% stake within the Baku-Tbilisi-Ceyhan (BTC) pipeline.

About TotalEnergies

TotalEnergies is a globally recognized multi-energy company that produces and markets various energies, including oil and biofuels, natural gas and green gases, as well as renewables and electricity. With a workforce of 100,000 employees, we are dedicated to providing energy that is increasingly affordable, clean, reliable, and accessible to as many individuals as possible. Operating across almost 130 countries, sustainable development lies at the core of all our projects and operations, aiming to contribute to the well-being of people.

TotalEnergies: A Leading Energy Company

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.

Forward-Looking Information and Statements

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. However, it is important to note that these forward-looking statements may prove to be inaccurate in the future and are subject to a number of risk factors.

Commitment to Transparency

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. Furthermore, it is important to consider the risk factors that may affect TotalEnergies’ financial results or activities. Detailed information concerning these risk factors can be found in the most recent Universal Registration Document filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), as well as in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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