TotalEnergies to acquire stakes in 26 Chevron-operated offshore blocks in the U.S.

TotalEnergies will take a 25% interest, while Chevron will acquire a 75% operated interest in two adjacent leases.

TotalEnergies has announced it will acquire a 25% interest in 26 Chevron-operated exploration leases offshore the United States. Chevron will also acquire a 75% operated interest in two adjacent leases from TotalEnergies.

Author: Робот Source: France’s TotalEnergies

Offshore oil and gas exploration area near the U.S. coast — Offshore exploration leases in the United States. Illustrative photo. Photo: zheka-se / Pixabay, Pixabay Content License

TotalEnergies will acquire a 25% working interest in 26 Chevron-operated exploration leases offshore the United States. Under the transaction, Chevron will acquire from TotalEnergies a 75% operated interest in two adjacent exploration leases.

The leases are located 150 to 250 km from shore. Twenty-four blocks are in the Green Canyon area and two are in the Walker Ridge area.

TotalEnergies said the deal strengthens its collaboration with Chevron and expands its U.S. offshore exploration portfolio. In June 2025, TotalEnergies entered 40 Chevron-operated exploration blocks.

Nicola Mavilla, TotalEnergies’ Senior Vice President of Exploration, said the transaction expands the companies’ joint exploration portfolio and gives TotalEnergies access to new opportunities.

TotalEnergies has operated in the United States since 1957. The company said it has invested nearly $12 billion in the country since 2022 to accelerate development in oil, LNG and electricity.

Source: France’s TotalEnergies

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TotalEnergies to acquire stakes in 26 Chevron-operated offshore blocks in the U.S.

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