TotalEnergies EP Angola Block 20: Finalized Sale to PETRONAS ANGOLA E&P LTD

TotalEnergies EP Angola Block 20 has successfully completed the sale of a 40% interest in Block 20 to PETRONAS ANGOLA E&P LTD (PAEPL), a subsidiary of the PETRONAS group of companies. The transaction, valued at $400 million as of January 1st, 2023, is subject to customary price adjustments.

Joint Ownership Structure

TotalEnergies will retain its operatorship and a 40% interest in Block 20, in addition to PAEPL's 40% interest and Sonangol Pesquisa e Produção S.A.'s 20% interest.

Discoveries in Block 20

Block 20 is home to the Cameia and Golfinho oil discoveries, strategically located approximately 150 km southwest of Luanda. Plans are in place to develop these discoveries through a system of subsea wells connected to a Floating Production, Storage, and Offloading unit (FPSO). The FPSO will have an impressive oil production capacity of 70,000 barrels per day, making it TotalEnergies' seventh FPSO project in Angola. To uphold environmental sustainability, the project will incorporate cutting-edge technologies to reduce greenhouse gas emissions. Furthermore, the facilities will be designed for zero flaring, with all associated gas reinjected into the reservoirs.

A Solid Partnership

TotalEnergies' Presence in Angola

TotalEnergies has been operating in Angola since 1953 and currently employs 1,500 individuals across various business segments. With a diverse portfolio that includes deep offshore assets, accounting for approximately half of the country's oil production, service stations in partnership with Sonangol, and renewable energy ventures, TotalEnergies plays a pivotal role in driving an equitable energy transition in Angola.

About Block 20

Block 20, composed of merged Blocks 21/09 and 20/15, was established as Block 20/11 by presidential decrees in July 2023.

About TotalEnergies

TotalEnergies is a global energy company committed to delivering reliable and sustainable energy solutions. With a presence in over 130 countries, TotalEnergies strives to make energy accessible to all while minimizing environmental impact.

TotalEnergies: A Global Multi-Energy Company

TotalEnergies is a leading global multi-energy company that specializes in the production and marketing of various forms of energy. With a diverse portfolio that includes oil and biofuels, natural gas and green gases, renewables, and electricity, TotalEnergies is committed to delivering affordable, clean, and reliable energy solutions to as many people as possible.

Our Commitment to Sustainable Development

With over 100,000 employees worldwide, TotalEnergies is active in nearly 130 countries. We prioritize sustainable development in all our projects and operations, aiming to contribute to the well-being of individuals and communities. We understand the importance of balancing economic growth with environmental preservation and social responsibility.

A Note of Caution

Forward-Looking Information and Statements

This document may include forward-looking information and statements based on economic data and assumptions made within a particular economic, competitive, and regulatory environment. However, please be aware that these projections may prove inaccurate or subject to risk factors in the future. TotalEnergies SE and its subsidiaries do not assume any obligation to publicly update forward-looking information or statements presented in this document.

For more information regarding risk factors that may affect TotalEnergies' financial results or activities, please refer to our most recent Universal Registration Document, filed with the French securities regulator Autorité des Marchés Financiers (AMF), as well as the Form 20-F submitted to the United States Securities and Exchange Commission (SEC).