TotalEnergies Divests West of Shetland Assets, Wins Offshore Wind Concession in Germany, and Launches Ubeta Gas Development in Nigeria
PARIS - TotalEnergies has announced significant developments in its global operations, involving asset divestment, renewable energy expansion, and gas field development. The French multinational energy company has signed an agreement to sell its participation in the West of Shetland assets to The Prax Group in the United Kingdom. Additionally, TotalEnergies, as a shareholder of Offshore Wind One GmbH, has been awarded the N-11.2 offshore wind concession in the North Sea by the German Federal Network Agency. Furthermore, TotalEnergies has reached the Final Investment Decision (FID) in collaboration with the Nigerian National Petroleum Corporation Ltd (NNPCL) for the Ubeta gas field development in Nigeria.
In the United Kingdom, TotalEnergies has agreed to sell its interests in various West of Shetland assets, including Laggan, Tormore, Glenlivet, Edradour, and Glendronach fields, as well as the Shetland onshore gas treatment plant and neighboring exploration licenses. These mature assets currently produce approximately insert production figure. The transaction is subject to regulatory approval.
Meanwhile, in Germany, TotalEnergies has secured the N-11.2 offshore wind concession after successful bidding conducted by the German Federal Network Agency. The concession, located in the North Sea about 120 kilometers northwest of the German archipelago of Heligoland, spans an area of approximately 156 square kilometers. With a capacity of 1.5 GW, this offshore wind project is a significant step towards TotalEnergies’ renewable energy expansion strategy.
In Nigeria, TotalEnergies, as the operator of OML 58 onshore license, together with the Nigerian National Petroleum Corporation Ltd (NNPCL), has made the Final Investment Decision (FID) for the development of the Ubeta gas field. Situated approximately 80 kilometers northwest of Port Harcourt in Rivers State, the OML 58 license includes the Obagi oil field and the Ibewa gas and condensate field, both currently in production. The Ubeta gas field development is expected to further contribute to Nigeria’s LNG liquefaction plant.
These recent developments highlight TotalEnergies’ commitment to diversifying its energy portfolio and expanding its operations in both renewable energy and hydrocarbon sectors. The company’s strategic decisions to divest mature assets, expand offshore wind portfolio, and develop gas fields in different parts of the world demonstrate its agility in navigating the evolving energy landscape.
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