The idea was for TotalEnergies and partner Equinor to have made their final investment decisions on the North Platte deepwater project in the US along the Gulf of Mexico during 2022.

Now, though, that plan is totally scrapped, at least for the French company's part, informs TotalEnergies in a brief statement.

"The decision not to continue with the project was taken as the company has better opportunities of allocation of its capital within its global portfolio," the French group writes.

TotalEnergies had operatorship of the license, owning 60 percent of the joint undertaking, with Equinor holding the remaining interest. Now the Norwegian oil outfit takes over the full project and, for the time being, has no plans to give up efforts.

"While we’re disappointed by TotalEnergies’ decision to withdraw, Equinor remains committed to developing the North Platte project,” says Equinor US Country Manager Chris Golden to media Offshore Engineer:

“This high-quality project is a strategic fit for our material position in the US Gulf of Mexico and will add significant value with relatively low carbon emissions intensity."

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