Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » TotalEnergies acquires CEPSA’s upstream assets in Abu Dhabi

    TotalEnergies acquires CEPSA’s upstream assets in Abu Dhabi

    March 1, 2023
    Share
    Facebook Twitter LinkedIn WhatsApp
    *The logo of French oil and gas company TotalEnergies is seen at the company’s headquarter skyscraper in La Defense near Paris, France, October 12, 2022. REUTERS/Gonzalo Fuentes

    Paris – TotalEnergies has signed an agreement with CEPSA to acquire CEPSA’s upstream assets in the United Arab Emirates with an effective date of January 1st, 2023.

    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 Company 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 is comprised of four producing offshore fields.

    The SARB and Umm Lulu transaction and the Mubarraz transaction are subject to satisfaction of customary conditions precedent, including formalization of documentation and final approvals.

    “This transaction represents another important milestone in our long-standing partnership with ADNOC and will further strengthen our presence in Abu Dhabi where we have been present since 1939”, said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.

    “The acquisition of a 20% working interest in SARB and Umm Lulu concession is fully aligned with our strategy of focusing on low-cost, low emission assets.”

    Follow us on twitter

    Related News

    Angola’s Block 17 partners sign license extension

    Tinubu pardons Ken Saro-Wiwa, confers national honours on Ogoni Nine

    NCDMB Executive Secretary becomes member of APPO Board

    E-book
    Resilience Exhibition

    Latest News

    Ogoni Nine pardon sparks reactions, as MOSOP, families demand exoneration

    June 13, 2025

    Angola’s Block 17 partners sign license extension

    June 13, 2025

    AEC launches specialized advisory services to support African energy investments

    June 13, 2025

    OPEC Fund Development Forum 2025: A global call for inclusive growth

    June 13, 2025

    High-performing green cement revolutionizes the industry

    June 13, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.