TotalEnergies, through its affiliate TotalEnergies E&P USA, Inc., announces its decision not to sanction and so to withdraw from the North Platte deepwater project in the US Gulf of Mexico.
The decision not to continue with the project was taken as the Company has better opportunities of allocation of its capital within its global portfolio.
TotalEnergies who held a 60% operated interest in North Platte, alongside its joint-interest owner Equinor (40%) has duly notified its partner and the relevant authorities of its immediate withdrawal from the project, and of its resignation as operator which will be effective following a short transition period to ensure an orderly hand-over of operatorship.
Source: Company Press Release
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