The company said it has better opportunities of allocation of its capital within its global portfolio.
TotalEnergies held a 60% operated interest in North Platte, alongside Equinor (40%). Its resignation as operator will be effective after a short transition period to ensure an orderly hand-over of operatorship.
The North Platte field straddles four blocks of the Garden Banks area, 275 km (171 mi) offshore Louisiana in about 1,300 m (4,265 ft) of water.
North Platte requires the use of 20,000-psi technologies.
The company launched the front-end engineering and design (FEED) phase in December 2019. The field development plan was to be based on eight subsea wells and two subsea drilling bases connected via two production loops to a newbuild semisubmersible FPU. Worley received the FPU FEED contract in January 2020.