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Suriname: TotalEnergies Acquires 25% Interest in Block 53

1. TotalEnergies acquires 25% interest in Block 53 offshore Suriname. 2. The acquisition enhances resources for the GranMorgu low-emission project. 3. Block 53 is near Block 58, which has a significant investment decision. 4. Partnership with APA and Petronas strengthens TotalEnergies' position in Suriname.

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FAQ

Why Bullish?

The acquisition will likely increase production capability and profitability, reminiscent of other successful acquisitions in similar sectors. Historical precedents, like the successful integration of new assets in the North Sea, suggest potential for price appreciation based on increased resource availability.

How important is it?

The acquisition enhances resource access and operational capacity, directly influencing financial performance and market positioning.

Why Long Term?

Long-term gains are expected as the GranMorgu project develops, akin to previous projects which saw value realization over extended periods. The strategic positioning in a resource-rich region will likely add long-term stability to revenues.

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APAPSECEPSA
- PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed an agreement to acquire the 25% interest held by Moeve (formerly known as CEPSA) in Block 53, offshore Suriname, joining APA (45%, operator) and Petronas (30%) as partner in this license. Block 53 lies directly east of Block 58, where TotalEnergies (40%*, operator) and its partners announced the Final Investment Decision for the GranMorgu development in October 2024. Block 53 contains the Baja-1 discovery, drilled near the border of Block 58. “This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project”, said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies. “It also proves how TotalEnergies will leverage GranMorgu infrastructure to develop profitably additional resources and extend its production plateau, strengthening the position of the Company in the offshore of Suriname”. * After 20% Staatsolie (NOC) back-in *** About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. @TotalEnergies TotalEnergies TotalEnergies 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 Universal 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). More News From TotalEnergies SE

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