Iraq: TotalEnergies Sells its Non-Operated Interest in the Sarsang Oil Field
15 Setembro 2022 - 3:40AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has completed the
divestment of its 18% interest in the onshore Sarsang oil field in
the Kurdistan region of Iraq, to ShaMaran Petroleum Corp., a
company listed in Canada and Sweden and focused on oil exploration
and development in Kurdistan, for a firm consideration of $ 155
million. An additional contingent consideration of USD 15 million
is payable in the future depending on production and oil
prices.
The Sarsang field, discovered in 2011, is operated by HKN (62%),
with KRG owning a 20% interest. TotalEnergies' share of production
was around 3,500 barrels per day in 2021.
***
TotalEnergies in Iraq In Iraq, TotalEnergies started its
activities in the 1920s with the discovery of Kirkuk field. The
company currently has a 22.5% interest in the Halfaya oil field.
TotalEnergies’ production in Iraq is about 14 000 boe per day in
2021. In September 2021, TotalEnergies signed major multi-energy
agreements in Iraq covering the construction of a new gas network
and treatment units, the construction of a large-scale seawater
treatment unit and the construction of a 1 GW photovoltaic power
plant. TotalEnergies sells lubricants in Iraq through distributors
on the local retail market. Our affiliate Saft takes part in calls
for tender as a subcontractor.
About TotalEnergies TotalEnergies is a global
multi-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 energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
Twitter: @TotalEnergies LinkedIn: TotalEnergies
Facebook: TotalEnergies Instagram: TotalEnergies
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 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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