TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), through its subsidiary TotalEnergies E&P USA, Inc., announces the sanction of the development of Ballymore, located 120 kilometers offshore Louisiana in the Gulf of Mexico in the United States.
TotalEnergies holds a working interest of 40% in Ballymore. Co-owner Chevron U.S.A. Inc., a subsidiary of Chevron Corporation, holds a 60% working interest as operator.
The Ballymore field will be developed through 3 production wells, tied back to the Chevron-operated Blind Faith Floating Production Unit. First Oil is expected in 2025 with a capacity of 75,000 barrels of oil per day. By utilizing existing infrastructure, the project ensures the lowest development costs and lower emission intensity.
“Sanctioning the Ballymore field development, only four years after the discovery, is the result of our exploration efforts in the Gulf of Mexico, said David Mendelson, Senior Vice President Americas of TotalEnergies Exploration & Production. Thanks to its tie-back development concept, this decision fits TotalEnergies’ strategy of focusing on oil projects with low breakeven and low emissions.”
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
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SOURCE: TotalEnergies SE Copyright Business Wire 2022