TotalEnergies buys 25 % of 40 US offshore licences from Chevron

TotalEnergies has confirmed the acquisition of a 25 % stake in forty exploration permits operated by Chevron on the Outer Continental Shelf (OCS), covering about 1 000 km² off the United States. The agreement, announced in a statement by the French company on June 16, strengthens cooperation between the two groups in deep-water oil exploration. The blocks lie between one hundred seventy-five and three hundred thirty kilometres from the coastline in areas regarded as mature yet still prospective in the Gulf of Mexico. No transaction value was disclosed.