The Prax Group to acquire assets in the Greater Laggan Area fields and Shetland Gas Plant from TotalEnergies.

The Prax Group, an independent global energy conglomerate, agreed to acquire assets in the Greater Laggan Area fields and Shetland Gas Plant from TotalEnergies, an integrated energy and petroleum company. Financial terms were not disclosed. “With a strong track record of integrating acquisitions and managing assets in the oil and gas value chain, the Prax Group is a long-standing and trusted partner of TotalEnergies. The announcement of the signing of this agreement is the culmination of many months of solid co-operation between our respective companies," Sanjeev Kumar Soosaipillai, Prax Group Chairman and CEO.