BAKU, Azerbaijan, June 16. TotalEnergies has acquired a 25% working interest in a portfolio of 40 offshore exploration leases in the U.S. Gulf of Mexico from Chevron, the operator of the assets, Trend reports.
The leases are located on the Outer Continental Shelf, covering an area of approximately 1,000 square kilometers.
The portfolio includes 13 blocks in the Walker Ridge area, 9 in the Mississippi Canyon, and 18 in the East Breaks area. These blocks are situated between 175 and 330 kilometers offshore.
The acquisition expands TotalEnergies' offshore exploration presence in the U.S. and builds on its existing partnerships with Chevron. The two companies already cooperate in several projects, including Ballymore (TotalEnergies 40%), which began production this year, Anchor (37.14%), which came online in 2023, and the producing fields Jack (25%) and Tahiti (17%).
“This transaction is in line with our consistent strategy of filling our Exploration portfolio with low cost and low emissions options,” said Kevin McLachlan, Senior Vice President of Exploration at TotalEnergies. He noted that the new leases offer a range of geological opportunities and that upcoming drilling decisions will be supported by advanced 3D imaging technologies.
The company expects the deal to help unlock further offshore production potential in the U.S. Gulf of Mexico.