The transaction is a further step in Moeve’s Positive Motion strategy to transform into a leading European provider of green molecules this decade

Moeve has sold to TotalEnergies the entire share capital of CEPSA Suriname S.L., an affiliate of Moeve which holds a 25% interest in Block 53, offshore Suriname. As a result, TotalEnergies will join APA (45%, operator) and Petronas (30%) as a partner in the license.

The divestment follows the sale of Moeve’s E&P assets in Colombia and Peru in 2024 and in Abu Dhabi in 2023, in line with the Company’s 2030 Positive Motion strategy to transform this decade into a company that generates more than 50% of its EBITDA from sustainable activities such as green hydrogen, green hydrogen derivatives and second-generation biofuels. Moeve has sold 70% of its oil production portfolio since 2022. 

KeyFacts Energy: Acquisitions & Mergers news