TotalEnergies acquires offshore assets in Abu Dhabi

March 1, 2023
TotalEnergies has signed an agreement with CEPSA to acquire CEPSA’s upstream assets in the United Arab Emirates.

Offshore staff

PARIS  TotalEnergies has signed an agreement with CEPSA to acquire CEPSA’s upstream assets in the United Arab Emirates, with a Jan. 1, 2023, effective date.

The assets to be acquired are:

  • a 20% participating interest in the Satah Al Razboot (SARB), Umm Lulu, Bin Nasher and Al Bateel (SARB and Umm Lulu) offshore concession. The SARB and Umm Lulu concession includes two major offshore fields. ADNOC holds a 60% interest in this concession, alongside OMV (20%). The concession is operated by ADNOC Offshore. 
  • a 12.88% indirect interest in the Mubarraz concession held by Abu Dhabi Oil Co. Ltd. (ADOC), through the acquisition of 20% of Cosmo Abu Dhabi Energy Exploration & Production Co. Ltd (CEPAD), a company holding a 64.4% interest in ADOC. The Mubarraz concession comprises four producing offshore fields.

03.01.2023

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Courtesy Energean's "January 2024 Trading & Operations Update"
Courtesy NewMed Energy
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