TotalEnergies EP Canada announces that it has exercised its right of first refusal to acquire an additional 6.65% interest in the Fort Hills Energy Limited Partnership, and the associated commercial and logistical agreements, with a view to its future spin-off.

Through this acquisition from Teck Resources Limited for a price of C$312 million, TotalEnergies increases its interest in the Fort Hills project to 31.23%. It also holds a 50% interest in Surmont, another project in Alberta.

As a reminder, TotalEnergies announced in September 2022 its intention to exit the Canadian oil sands by spinning off its subsidiary TotalEnergies EP Canada in 2023, an operation to be put to a vote at the Annual General Meeting next May.

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