TotalEnergies Acquires 25% Interest in 26 US Offshore Blocks

en.Wedoany.com Reported - On October 28, French energy company TotalEnergies confirmed the acquisition of a 25% working interest in 26 US offshore oil and gas exploration blocks operated by Chevron. The transaction assets are located in the Gulf of Mexico, approximately 150 to 250 kilometers off the US coast, with 24 blocks in the Green Canyon area and the remaining 2 in the Walker Ridge area. Chevron will continue to serve as operator of these exploration blocks.

The transaction also includes a reverse interest transfer. Chevron will acquire from TotalEnergies a 75% working interest in another 2 exploration blocks. These two blocks are adjacent to exploration assets previously jointly held by both parties, and Chevron will assume the corresponding operational management responsibilities upon completion of the transaction.

TotalEnergies and Chevron previously completed another batch of US offshore exploration asset transactions in June 2025, in which TotalEnergies acquired a 25% working interest in 40 exploration blocks operated by Chevron, covering the Walker Ridge, Mississippi Canyon and East Breaks areas. The 26 additional blocks are part of another asset transaction between the two parties in 2026.