TotalEnergies: raises stake in Fort Hills project

(CercleFinance.com) - TotalEnergies EP Canada announces that it has exercised its pre-emptive right to acquire an additional 6.
65% interest in the Fort Hills Energy Limited Partnership, and the associated commercial and logistical agreements, in view of its future spin-off.

This acquisition from Teck Resources Limited for 312 million Canadian dollars increases its interest in the Fort Hills project to 31.23%. It also holds a 50% interest in Surmont, another project in Alberta.

For the record, in September 2022 TotalEnergies announced its intention to exit the Canadian oil sands by spinning off its subsidiary TotalEnergies EP Canada in 2023, an operation that is to be submitted to vote at the company's general shareholder meeting next May.


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