By Ejekwu Chidiebere
- Intention is to build on a successful US offshore partnership between both Companies
TotalEnergies has just announced the acquisition of a 25% working interest in a portfolio of exploration leases Offshore the United States from Chevron (operator).
The 40 Outer Continental Shelf (OCS) federal leases, spanning approximately 1,000 km2 and located 175 to 330 km from shore, include 13 blocks located in the Walker Ridge area, 9 blocks in the Mississippi Canyon area and 18 blocks in the East Breaks area, the French Major said.
Energy Window International (Media) learnt that the transaction would provide access to multiple offshore Exploration plays and prospects, aimed at strengthening the successful US offshore collaboration with Chevron beyond the existing partnerships in Ballymore (40% TotalEnergies) which according to the French oil firm achieved first production this year, Anchor (37.14%) where production started-up last year, and the Jack (25%) and Tahiti (17%) producing assets.
“This transaction” Kevin McLachlan, Senior Vice- President Exploration was quoted to have said, “is in line with our consistent strategy of filling our Exploration portfolio with low cost and low emissions options, and will significantly expand TotalEnergies’ Offshore U.S. exploration acreage, combining a wide range of geological plays and prospectivity.” “Building on the momentum of the recent Ballymore and Anchor startups, we are very pleased to expand our successful partnership with Chevron, and we expect to mature Exploration drill decisions on these blocks utilizing advanced 3D imaging technology to unlock large remaining US Offshore production potential.”
Meanwhile the French company has said that it is already deploying its integrated energy model across the United States, where it says it has been active since 1957. Adding that since 2022, it has invested nearly $11 billion in the country to accelerate development in oil, LNG, and low carbon electricity.
With over 10 million tons of output in 2024, TotalEnergies says it is the leading exporter of US LNG, and substantially integrated throughout the LNG value chain, with upstream gas production assets in Texas and offshore US. “The US is also a key country for the deployment of TotalEnergies’ Integrated Power strategy – with 10 GW of onshore utility-scale solar, wind and battery storage, installed and under construction.”