Total gives up on a giant field.And he loses in court against Greenpeace

A Bulgarian weekly reveals that TotalEnergies has given up on exploration in the Khan Asparuh oil and gas field in the Black Sea.

The French oil company TotalEnergies, decided to give up exploration activity in search of petrolium and of gas in the deposit of Khan Asparuh, located in the Black Sea, north of the Bulgaria.This was revealed by the Bulgarian Capital Weekly, as reported by Euractiv, which cites information from the annual report of the other project partner:Romanian society Omv Petrom.

Fellow Romanian partner OMV Petrom will continue explorations

The step backwards by Total, therefore, does not seem official.However, the French press has not published any denials from the transalpine giant.And the fact that the latter has decided to withdraw from the new ones drilling it does not mean that the deposit cannot be exploited in any case.In the same annual report, in fact, Omv Petrom assures:“We will continue to strengthen our position in Black Sea.we have assumed the role of operator and will continue exploration activities in the perimeter of the Khan Asparuh field".

The authorization to carry out exploration activities was granted several years ago:studies began in 2012.the consortium created by Ovm and Total is held 43 percent by the former and 57 percent by the latter (initially the company was also part of it Repsol, what then has surrendered its rights).It remains to be understood, therefore, what will become of the share of participation of the French company.

In the initial forecasts, confirmed by Total, there are two deposits in the area in question, which would theoretically allow the extraction of 5 and 8 billion cubic meters per year, in the time period between 2030 and 2044.If the estimates prove to be accurate, investments will be needed between 4 and 8 billion euros to make the site operational.Who will put them at this point?Will the project fail?

Total's appeal against Greenpeace rejected

What is certain is that the pressure on the giants of fossils, also thanks to the commitment of civil society, is increasingly higher.Just yesterday, Thursday 28 March, the French justice rejected legal action launched by Total itself against the association Greenpeace.The latter he had accused the oil company Of underestimate their own CO2 emissions.

According to Total, it would have been false information and, therefore, defamation.For its part, the company commented by limiting itself to "taking note of the judge's decision" and reserving the right to evaluate whether or not to file an appeal.