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Macro Risks of a Delayed FID

Macro Risks of a Delayed FID

In Feb ’22 TotalEnergies announced an oil discovery in offshore Block 2913B, now known as Venus. In ’26 TotalEnergies stated that Venus is technically ready for sanction and that only the fiscal and legal terms with government remain open. The joint end-Jul ’26 FID target was missed and the company has said the decision must come before ’27 because contractor tenders will not stay valid indefinitely. First oil is targeted for ’30.

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