TotalEnergies: towards the sale of assets in the United Kingdom

(CercleFinance.com) - TotalEnergies announces that it has signed an agreement to sell its interests in all of its West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, EdradouretGlendronach fields, Shetland onshore gas processing plant, adjacent exploration licenses) to The Prax Group.


The transaction is subject to the approval of the relevant authorities.
These mature assets currently produce some 7,500 barrels of oil equivalent per day in TotalEnergies' share, 90% of which is gas.

The transaction provides for the transfer of the employees concerned from TotalEnergies to Prax, in compliance with current regulations.

"This transaction is in line with TotalEnergies' strategy of constantly optimizing its portfolio by disposing of non-strategic mature assets", commented Jean-Luc Guiziou, Senior Vice President Exploration-Production Europe of TotalEnergies.

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