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TotalEnergies has announced its withdrawal from offshore Blocks 11B/12B and 5/6/7 off the southern coast of South Africa. This decision follows the exit of partner CNRI from Block 11B/12B, where TotalEnergies EP South Africa holds a 45% interest. View the full article
TotalEnergies SE became the first foreign company to win a stake in a multibillion-dollar project to boost Qatar’s gas exports. View the full article
Located 20 nautical miles (37 km) from the coast, the lease covers a 120 square nautical miles area (222 sq km) that will generate a capacity of more than 1 GW, enough to provide power to more than 300,000 homes. View the full article
On the back of recent investments, exploration and production updates and strong willingness by the government, the Republic of Congo is taking historic measures to ensure its oil and gas industry drives resource monetization and energy access throughout Africa View the full article
TotalEnergies plans to relinquish the license for Block 11B/12B because it doubts whether the complex deepwater finds can be made commercially viable, given South Africa’s small gas market. The company will concentrate instead on exploring the Orange basin, located further north on the Atlantic coast of South Africa near promising offshore oil discoveries in Namibian waters. View the full article
The contract value for the firm period is approximately $68 million, and the contract also includes two 7-month options. The planned start-up of operations is set for March 2025. View the full article
TotalEnergies SE took a $4.1 billion writedown on its flagship Russian gas project and indicated that it may belatedly join its peers in pulling back from the country two months after the invasion of Ukraine. View the full article
TotalEnergies EP (Brunei) B.V. owns and operates a 37.5% interest in Block B, alongside Shell Deepwater Borneo (35%) and Brunei Energy Exploration (27.5%). Block B, located 85 km offshore Brunei, contains the Maharaja Lela/Jamalulam (MLJ) field, which started producing in 1999 and represented a net production for TotalEnergies of approximately 9,000 boed in 2023. View the full article
TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses). View the full article
French energy giant TotalEnergies SE expects global oil demand to peak before the end of this decade, sooner than it previously forecast, as more nations crack down on fossil fuels to fight global warming. View the full article
SBM Offshore announced that a Fast4Ward hull for the Block 58 development project offshore Suriname has been reserved by TotalEnergies. The announcement is in line with the Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading vessel (FPSO) for the development project. View the full article
TotalEnergies has signed with the Ministry of Energy and Minerals of the Sultanate of Oman a series of agreements for the sustainable development of the country’s natural gas resources. View the full article
As part of the rollout of its multi-energy strategy in Angola, TotalEnergies announced the launch of the Begonia oil field, and Quiluma and Maboqueiro gas fields developments, as well as its first photovoltaic project in the country. View the full article
TotalEnergies, as operator, announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design sudies for the Papua LNG project's upstream production facilities. View the full article
The 3 MW floating wind turbine will be located 2 km west of the Culzean platform, 220 km offshore Scotland. This turbine, expected to be fully operational by end 2025, will supply around 20% of Culzean’s power requirement, thereby reducing its GHG emissions. View the full article
TotalEnergies, OML99 operator (40%) in partnership with the Nigerian National Petroleum Corporation (NNPC, 60%), has announced the start of production from the Ikike field, in Nigeria. View the full article
Located within an emerging basin, 60 km offshore Principe, Block STP02 covers an area of 4,969 km2. Block STP02 is adjacent to the Block STP01 license operated by TotalEnergies (55%) alongside Sonangol (30%) and ANP-STP (15%). View the full article
TotalEnergies SE is investing about $1.5 billion in Qatar’s latest, mammoth natural gas development, just three months after buying into another of the nation’s expansion projects. View the full article
Production start-up is expected in 2027, with a plateau of 300 MMcfgd (about 70,000 boed, including condensates). Gas from Ubeta will be supplied to NLNG, a liquefaction plant located in Bonny Island, in which TotalEnergies holds a 15% interest. View the full article
TotalEnergies SE is weighing taking a stake in what will be the world’s largest offshore wind farm, according to people familiar with the matter, as the French oil major continues to flex its green credentials. View the full article
The extension from October provides firm revenue backlog of approximately $24.3-34.2 million, with the option to extend for an additional well, potentially adding a further approximately $26.9-36.9 million. View the full article
TotalEnergies SE Chief Executive Officer Patrick Pouyanne said it’s “too early” for the French oil major to consider spinning off its renewable-energy business because that segment may triple in value by 2025. View the full article
Block 3B/4B covers an area of 17,581 km2 within the prolific Orange basin offshore South Africa in water depths ranging between 300 m and 2,500 m. The block is near a number of highly anticipated oil discoveries, including the Venus discovery. View the full article
TotalEnergies announces deployment of an innovative technology developed by Qnergy, to significantly reduce methane emissions related to its operations on the Barnett gas field in the United States. View the full article
Total CEO Patrick Pouyanne called the pacts a historic milestone for the production work and export pipeline that will draw more than $10 billion of investment. “It’s a very large development, one of the largest that will be developed on this continent,” though just the beginning of a process that will see oil flow in early 2025, he said. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.