27th Jun 2025 10:40
TotalEnergies SE - Paris-based energy company - Acquires 25% interest in Block 53, located offshore Surinane, from Spanish energy and petroleum company, Moeve. With this deal, it joins operator APA which has a 45% interest, and Petronas which has a 30% interest, as a partner in the licence. The block is situated east of Block 58, which it has a 40% interest and is the operator. Here, its partners reported the final investment decision for the GranMorgu development back in October, it notes. Adds that Block 53 possesses the Baja-1 discovery.
"This acquisition brings new resources to the development of our low-cost and low-emission GranMorgu project," says Javier Rielo, senior vice president at Total Energies.
Current stock price: EUR52.61, up 0.2% on Friday morning in Paris
12-month change: down 15%
By Christopher Ward, Alliance News reporter
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