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TotalEnergies and INPEX to buy 100% of Timor Sea gas field interest from PTTEP

Published 21/08/2023, 07:53
Updated 21/08/2023, 07:55
© Reuters. FILE PHOTO: The logo of French oil and gas company TotalEnergies is seen on an oil tank at TotalEnergies fuel depot in Mardyck near Dunkirk, France, January 16, 2023. REUTERS/Benoit Tessier/File Photo

PARIS (Reuters) - France's TotalEnergies (LON:TTEF) on Monday said it had teamed up with Japanese peer INPEX to acquire 100% of the interest in the AC-RL7 permit in the Timor Sea from PTTEP.

The permit, which includes gas and condensate fields, is expected to contribute to the long-term supply of the Ichthys LNG natural gas liquefaction plant, in which TotalEnergies is a 26% partner while INPEX and other Asian minority shareholders hold the remaining 74%.

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