REG-TotalEnergies SE TotalEnergies SE: Norway: First Oil Production on Eldfisk North

TotalEnergies SEAnnouncement

08/05/2024 12:00

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TotalEnergies SE: Norway: First Oil Production on Eldfisk North

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces successful first oil
production on the Eldfisk North Project, located in the Greater Ekofisk Area
in the North Sea.

The Eldfisk North Project is located in PL018, and the licensees are
TotalEnergies EP Norge AS (39.896%), ConocoPhillips Skandinavia AS (35.112% -
Operator), Vår Energi ASA (12.388%), Sval Energi AS (7.604%) and Petoro AS
(5.000%).

In December 2022, the Norwegian authorities approved the Eldfisk North Plan
for Development and Operation with original production start scheduled in the
second quarter of 2024. Cooperation and efficiency across companies have
unlocked earlier first oil production.

“This is a nice example of a short cycle project which is delivered safely
and ahead of plan. The Eldfisk North project is indeed unlocking additional
resources whilst benefitting from the use of available capacities in the
existing infrastructure in the Greater Ekofisk Area. With a low break-even and
greenhouse gas emissions below 10 kg/boe, the Eldfisk North project fits
nicely in TotalEnergies portfolio,” said Jean-Luc Guiziou, Senior Vice
President Europe for Exploration & Production at TotalEnergies.

The Eldfisk North Project comprises three 6-well subsea templates located
approximately seven kilometers from the Eldfisk Complex. The development
includes up to 14 wells, whereof nine are producers and five will inject water
into the reservoir. The Eldfisk North Project will produce 15,000 barrels of
oil equivalent per day at peak and use the available capacity of Eldfisk
facilities for processing and transportation.

The project has created approximately 4,000 to 4,500 jobs, and more than 80%
of the total contract value has been awarded to Norwegian businesses.

About Eldfisk

The Eldfisk Field was discovered in 1970 and original plan for development and
operation was approved in 1975. A new plan for development and operation was
approved for the Eldfisk II Redevelopment Project in 2011. The Eldfisk
reservoir consists of fractured chalk containing mainly oil, similar to
surrounding fields in the Greater Ekofisk Area.

About TotalEnergies

TotalEnergies is a global integrated 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 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.

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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.
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).

TotalEnergies Contacts

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