TotalEnergies SE 6-K, filed Sep 1, 2020
TotalEnergies SE (TTE)
About this 6-K
TotalEnergies SE filed this 6-K on September 1, 2020.
UNITED STATES
SECURITIES AND EXCHANGECOMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGNPRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
September 1, 2020
Commission FileNumber 001-10888
TOTAL SE
(Translation of registrant’s name into English)
2, place Jean Millier
La Défense 6
92400Courbevoie
France
(Address ofprincipal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
TOTAL SE is providing on this Form 6-K a description of certain recent developments relating to its business.
TABLE OF CONTENTS
| SIGNATURES | |
|---|---|
| EXHIBIT INDEX | |
| Exhibit 99.1 | Total Closes the Sale of Non-Core UK Assets to NEO Energy (August 6, 2020) |
| Exhibit 99.2 | Brazil: Total Launches Phase 3 On the Giant Mero Field Development (August 17, 2020) |
| Exhibit 99.3 | United-States: SunPower completes Maxeon Solar Technologies’ Spin-Off Transaction (August 27, 2020) |
| Exhibit 99.4 | Total signs agreement with the Government of Mozambique regarding the security of Mozambique LNG project (August 24, 2020) |
| Exhibit 99.5 | Total and Macquarie Partner to Develop 2GW Floating Offshore Wind Portfolio in South Korea (September 1, 2020) |
EXHIBIT INDEX
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TOTAL SE | |||
|---|---|---|---|
| Date: September 1, 2020 | By: | /s/ ANTOINE LARENAUDIE | |
| Name: | Antoine LARENAUDIE | ||
| Title: | Group Treasurer |
EX-99.1
^EXHIBIT 99.1^
Press Release
Total Closes the Sale ofNon-Core
UK Assets to NEO Energy
Paris, August 06, 2020 – Following the regulatory approvals and the agreement of partners, Total closed the sale of UK North Sea non-core assets to NEO Energy.
“As announced on May 20, we have worked closely withHitecVision and its portfolio company NEO Energy to conclude this sale. This sale of assets contributes to the action plan currently being implemented to address the economic crisis by focusing on cash delivery and demonstrates ourability to relentlessly lower the breakeven of our portfolio” declared Jean-Pierre Sbraire, Chief Financial Officer of Total.
The detailed transition plan prepared with NEO Energy will ensure a smooth transfer of operations.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
* * * * *
Total Contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary Note
Thispress release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE. directly or indirectly owns investments are separate legal entities. TOTAL SE. has no liability for their acts oromissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries ingeneral or to those who work for them.
This document may contain forward-looking information and statements that are based on a number ofeconomic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes anyobligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
TOTAL Classification: Restricted Distribution
TOTAL - All rights reserved
EX-99.2
EXHIBIT 99.2
Press Release
Brazil: Total Launches Phase 3 On the Giant
Mero Field Development
Paris,August 17, 2020 – Total and its partners have taken the investment decision for the third phase of the Mero project (Libra block), located deep offshore, 180 kilometers off the coast of Rio de Janeiro, in the prolific pre-salt area of the Santos Basin.
The Mero 3 FPSO^1^ will have a liquid treatment capacity of 180,000 barrels per day and is expected to start up by 2024. It follows investment decisions for Mero 1 (startup expected in 2021) and Mero 2 (startup expected in 2023) FPSOs, both of which have a liquid processing capacity of 180,000 barrels per day.
“The decision to launch Mero 3 marks a new milestone in the large-scale development of the vast oil resources of the Mero field – estimated at 3 to 4 billion barrels. It is in line with Total’s growth strategy in Brazil’s deep-offshore, based on giant projects enabling production at competitive cost, resilient in the face of oil price volatility,” said Arnaud Breuillac, President Exploration & Production at Total. “The Mero project will contribute to the Group’s production from 2020 onwards, and we are targeting a production of 150,000 barrels per day in Brazil by 2025. ”
The Mero field has been in pre-production since 2017 with the 50,000-barrel-per-day Pioneiro de Libra FPSO. The Libra Consortium is operated by Petrobras (40%) as part of an international partnership including Total (20%), Shell Brasil (20%), CNOOC Limited (10%) and CNPC (10%). Pré-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.
^1^ Floating Production Storage and Offloading (FPSO)
Total in Brazil
Total has been present in Brazil for over 40 years and has more than 3,000 employees in the country. The Group operates in all segments: exploration and production, gas, renewable energies, lubricants, chemicals, and distribution.
Total Exploration & Production’s portfolio currently includes 24 blocks, with 10 operated. In 2019, the Group’s production in the country averaged 16,000 barrels of oil per day. In October 2019, a consortium led by Total was awarded Block C-M-541, located in the Campos Basin, in the 16th Bidding Round held by Brazil’s National Petroleum Agency (ANP).
In 2017, Total and Petrobras formed a Strategic Alliance encompassing exploration and production and gas, renewables and power activities. Through the Alliance, the two groups are implementing R&D projects on topics such as artificial intelligence leading to efficiency gains, with direct applications in Brazil. Total entered the fuel distribution market in Brazil with the acquisition in December 2018 of Grupo Zema’s distribution activities. Total thus owns a network of 280 service stations, as well as several storage facilities for petroleum products and ethanol.
About Total
Total is a broad energy Group, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
* * * * *
Total Contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note **** ****
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly orindirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In this document, the terms “Total” and “Total Group” are sometimes used for convenience where general references aremade to TOTAL SE and/or its subsidiaries. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a giveneconomic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation to update publicly any forward-lookinginformation or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EX-99.3
EXHIBIT 99.3
Press Release
United-States: SunPower completes Maxeon Solar Technologies’
Spin-Off Transaction
Paris, 27, August2020 — SunPower, majority owned by Total since 2011, successfully completed the strategic transaction, announced last November, to create two independent public companies:
| • | SunPower, the leading North American distributed generation company, |
|---|---|
| • | and Maxeon Solar Technologies, a leading global manufacturer of premium solar panels. Concurrently, Tianjin Zhonghuan<br>Semiconductor Co., Ltd. (TZS), a long-term partner of SunPower, is taking a minority share of Maxeon Solar Technologies through a 298 MUSD equity investment. |
| --- | --- |
Total fully supports this strategic move which will allow SunPower to focus on developing its positions in the North American distributed generation and storage market. Total remains majority shareholder of SunPower with a shareholding of 51.7%.
Total also welcomes the investment of TZS in Maxeon Solar Technologies which will consolidate the growth of its industry-leading solar panel technology to a high-volume scale. This investment will indeed facilitate the scale-up of Maxeon® 5 premium solar panels production capacity. Total with a shareholding of 34.6% is the main shareholder of the newly created company Maxeon Solar Technologies, alongside with the new shareholder TZS who owns 28.848%.
Commenting on the transaction, Patrick Pouyanné, Chairman and CEO of Total, said: “Throughout our decade-long cooperation, SunPower has always demonstrated a remarkable innovation spirit and agility. Today’s strategic milestone will ensure the business sustainability and enhance performance of both activities. The creation of two separate public companies initiated by Total as the majority shareholder of SunPower will enable them to fully leverage their strengths on focused businesses : distributed generation marketing on the US market on one side and solar panels manufacturing on the other side. I want to offer my congratulations on the successful transaction and express my support to the teams whose remarkable efforts allowed us to make this operation a success in these challenging times.”
Solar is key to Total’s commitment to develop low carbon electricity and Total maintains a strong ambition to grow on the US solar market, one of the largest in the world, together with Sunpower. The Group continues to grow its renewables businesses worldwide to become a leading international player, in line with Total’s new Climate Ambition to Get to Net Zero by 2050.
* * * * *
Total and Low-Carbon Electricity
Total integrates climate change into its strategy and stays ahead of new energy market trends by building a portfolio of activities in low-carbon electricity that could account for up to 40% of its sales by 2050. Today, Total’s gross low-carbon power generation capacity worldwide is currently close to 9 gigawatts, including over 5 gigawatts from renewable energies. Total targets 25 GW of a renewable generation capacity in 2025 and will continue to expand its business to become a leading international player in renewable energies.
About SunPower
Headquartered California’s Silicon Valley, SunPower’s (NASDAQ:SPWR) is the leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed by one company that gives customers complete control over energy consumption, delivering grid independence, resiliency during power outages and cost savings to homeowners, businesses, governments, schools and utilities.
About Maxeon Solar Technologies
Maxeon Solar Technologies (NASDAQ: MAXN) is Powering Positive Change^™^. Headquartered in Singapore, Maxeon designs and sells SunPower brand solar panels across more than 100 countries and is the leader in solar innovation with access to over 900 patents and two best-in-class solar panel product lines. With operations in Africa, Asia, Oceania, Europe and Mexico, Maxeon products span the global rooftop and solar power plant markets through a network of more than 1,100 trusted partners and distributors. A pioneer in sustainable solar manufacturing, Maxeon leverages a 35-year history in the solar industry and numerous awards for its technology.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
* * * * *
Total Contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary note **** ****
This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S E directly orindirectly owns investments are separate legal entities. TOTAL S E has no liability for their acts or omissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words“we”, “us” and “our” may also be used to refer to subsidiaries in general or to those who work for them.
Thisdocument may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and aresubject to a number of risk factors. Neither TOTAL S E nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of newinformation, future events or otherwise.
EX-99.4
Exhibit 99.4
Press Release
Total signs agreement with the Government of Mozambique
regarding the security of Mozambique LNG project
Maputo, August 24, 2020 - Total E&P Mozambique Area 1, operator of the Mozambique LNG project, announces that it has signed a new Memorandum of Understanding with the Government of Mozambique regarding the security of Mozambique LNG project activities.
This new Memorandum of Understanding provides that a Joint Task Force shall ensure the security of Mozambique LNG project activities in Afungi site and across the broader area of operations of the project. Mozambique LNG shall provide logistic support to the Joint Task Force. The Government of Mozambique is committed that the Joint Task Force personnel shall act according to the Voluntary Principles on Security and Human Rights (VPSHR).
The memorandum demonstrates the project’s commitment to meeting its milestones in a secure manner, while creating local opportunities and bringing meaningful social and economic benefits for the province of Cabo Delgado and the country.
His Excellency the Minister of Mineral Resources and Energy, Ernesto Max Elias Tonela, said: “We are proud to continue working with the Mozambique LNG project to ensure the country benefits from its presence. This Memorandum of Understanding bolsters security measures and endeavors to create asafe operating environment for partners like Total which enables their ongoing investment in Mozambican industry, for small and medium enterprise and for our communities.”
Ronan Bescond, Country Chair of Total in Mozambique, said: “In recognition of the benefits the Mozambique LNG project will bring to localcommunities, the country, and all parties involved in the project, Total and the Government of Mozambique are committed to enable steady progress towards a successful delivery of the project. In view of the security situation in the Province of CaboDelgado, our priority is to ensure the security of our workforce, many of whom residing in neighboring communities, and of the project operations. On behalf of our Area 1 partners, we appreciate the support provided by the Government of Mozambiquefor the secure delivery of the project.”
Total E&P Mozambique Area 1 Limitada, a wholly owned subsidiary of Total, operates Mozambique LNG with a 26.5% participating interest alongside ENH Rovuma Área Um, S.A. (15%), Mitsui E&P Mozambique Area1 Limited (20%), ONGC Videsh Rovuma Limited (10%),
Beas Rovuma Energy Mozambique Limited (10%), BPRL Ventures Mozambique B.V. (10%), and PTTEP Mozambique Area 1 Limited (8.5%).
* * * * *
About Mozambique LNG project
Mozambique LNG is the country’s first onshore LNG development. The project includes the development of the Golfinho and Atum fields located within Offshore Area 1 and the construction of a two-trains liquefaction plant with a capacity of 13.1 million tonnes per year. The Area 1 contains more than 60 Tcf of gas resources, of which 18 Tcf will be developed with the first two trains. The Final Investment Decision of Mozambique LNG project was announced on June 18, 2019, and the project is expected to come into production by 2024.
About Total Mozambique
Present in Mozambique for nearly 30 years, Total Mozambique is a major player in the downstream petroleum products market – gas stations network, industrial and mining customers, lubricants and logistics. Total has an estimated market share of 14%.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
* * * * *
Contacts
Media Relations:
Helder Ossemane - +258 84 910 1346 helder.ossemane@external.total.com
* * * * *
Cautionary note
Thispress release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE. directly or indirectly owns investments are separate legal entities. TOTAL SE. has no liability for their acts oromissions. In this document, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries ingeneral or to those who work for them.
This document may contain forward-looking information and statements that are based on a number of economic data andassumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE. nor any of its subsidiaries assumes any obligation to updatepublicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.
EX-99.5
^EXHIBIT 99.5^
Press Release
Total and Macquarie Partner to Develop 2GW Floating Offshore
Wind Portfolio in South Korea
Paris,September 1 ^st^ 2020 – Total and Macquarie’s Green Investment Group (GIG) have concluded a 50/50 partnership to develop a portfolio of 5 large floating offshore wind projects in South Korea with a potential cumulated capacity of more than 2 gigawatts (GW).
Located off the Eastern and Southern coasts of the country (Ulsan and South Jeolla Provinces), the projects have commenced on-site comprehensive wind data collection campaign. The partners aim to launch construction of the first project of around 500 megawatts by end 2023.
With the announcement of the “Green New Deal” plan last July 14^th^, South Korea has re-affirmed its strong ambitions to develop renewable energies which shall reach at least 20% of the power mix by 2030, including 12 GW of offshore wind capacities. The country has a significant potential for the development of a floating offshore wind segment benefiting from a strong governmental support and a unique set of local competencies amongst which the extensive shipbuilding know-how and the country’s ambitious R&D programs.
“Our entry in the floating offshorewind segment in South Korea is in line with Total’s strategy to profitably develop renewable energy worldwide and contribute to our net zero ambition.” said Patrick Pouyanné, Chairman**&CEO of Total*****.*** “We strongly believe in the potential of floating offshore wind in South Korea, which will play a key role in achieving the country’s renewables objectives. Thanks to its extensive experience inoffshore projects, in cooperation with many Korean shipyards, Total is particularly well positioned to contribute to the successful development of this new technology in South Korea together with our partner GIG. We are indeed very keen to expandour long-term cooperation with South Korea, contribute to the diversification of its energy mix and support the emergence of a new industrial sector by maximizing Korean content within the supply chain of these projects”.
Subject to regulatory approvals and satisfaction of other conditions precedent, the partnership will become effective in the autumn of 2020.
***
Total andLow-Carbon Electricity
Total integrates climate change into its strategy and stays ahead of new energy market trends by building a portfolio of activities in low-carbon electricity that could account for up to 40% of its sales by 2050. Today, Total’s gross low-carbon power generation capacity worldwide is currently close to 9 gigawatts, including over 5 gigawatts from renewable energies. Total targets 25 GW of a renewable generation capacity in 2025 and will continue to expand its business to become a leading international player in renewable energies.
About Total
Total is a broad energy company that produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
Total Contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l @TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Cautionary Note
This press release, fromwhich no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL SE directly or indirectly owns investments are separate legal entities. TOTAL SE has no liability for their acts or omissions. In thisdocument, the terms “Total”, “Total Group” and Group are sometimes used for convenience. Likewise, the words “we”, “us” and “our” may also be used to refer to subsidiaries in general or to those whowork for them.
This document may contain forward-looking information and statements that are based on a number of economic data andassumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TOTAL SE nor any of its subsidiaries assumes any obligation toupdate publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise.