Chevron has sold a 25% working interest in a portfolio of 40 Outer Continental Shelf (OCS) federal leases in the US Gulf of Mexico (United States) to TotalEnergies. The offshore leases include 13 blocks located in the Walker Ridge area, 9 blocks in the Mississippi Canyon area and 18 blocks in the East Breaks area, and span approximately 1,000 km2. The transaction strengthens the collaboration between Chevron and TotalEnergies beyond their existing partnerships Ballymore (40% TotalEnergies), Anchor (37.14%) , and the Jack (25%) and Tahiti (17%) producing assets.
TotalEnergies has been active in the United States since 1957, mainly focusing on oil, LNG, and low carbon electricity. The group is integrated throughout the LNG value chain, with upstream gas production assets in Texas and offshore US, producing over 10 Mt of LNG in 2024. In addition, TotalEnergies calims 10 GW of onshore utility-scale solar, wind and battery storage, installed and under construction.