TOTALENERGIES SE: TotalEnergies SE: Brazil: Launch of the Lapa South-West Project
16 Janvier 2023 - 08:55AM
UK Regulatory (RNS & others)
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has approved the
final investment decision of the Lapa South-West oil development
located in the Santos Basin, 300 km off the coast of Brazil.
TotalEnergies operates the project with a 45% interest, in
partnership with Shell (30%) and Repsol Sinopec (25%). Lapa
South-West will be developed through three wells, connected to the
existing Lapa FPSO located 12 km away and currently producing the
North-East part of Lapa field since 2016.
At production start-up, expected in 2025, Lapa South-West will
increase production from the Lapa field by 25,000 barrels of oil
per day, bringing the overall production to 60,000 barrels of oil
This development represents an investment of approximately $1
"This latest development is an important milestone for
TotalEnergies in Brazil that will increase its operated production
in the pre-salt Santos Basin, a key growth area for the Company"
stated David Mendelson, Senior Vice President, Americas at
TotalEnergies Exploration & Production. "With its efficient
engineering approach and synergies with existing facilities, this
project illustrates TotalEnergies' strategy of focusing on low
cost, low emissions assets."
About TotalEnergies in Brazil
TotalEnergies has been operating in Brazil for over 40 years,
and now employs more than 3,000 people across its business
segments, covering activities in exploration and production, gas,
renewable energies, lubricants, chemicals, and distribution.
TotalEnergies' Exploration & Production portfolio currently
includes ten licenses, of which four are operated. In addition,
TotalEnergies was awarded in December 2022 a new deep-water
exploration non-operated block in the Campos basin (Agua Marinha,
30%) which should be signed in first half 2023.
In 2022, the Company's production in the country averaged
103,500 barrels of oil equivalent per day.
In 2017, TotalEnergies and Petrobras formed a Strategic Alliance
in exploration and production, and gas, renewables and power
activities. The Alliance allows the two companies to implement
R&D projects in fields such as artificial intelligence, to
generate efficiency gains, with direct applications in Brazil.
In December 2018, TotalEnergies entered Brazil's fuel
distribution market with the acquisition of Grupo Zema's
distribution activities, giving TotalEnergies a network of nearly
240 service stations, as well as several storage facilities for
petroleum products and ethanol.
Through its subsidiary Total Eren, TotalEnergies is pursuing its
growth in the Brazilian renewables sector, to build on its current
capacity of 300 MW. In October 2022, TotalEnergies partnered with
Brazil's leading renewable energy player Casa dos Ventos to jointly
develop a 12 GW renewable energy portfolio.
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
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forward-looking information and statements that are based on a
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factors. Neither TotalEnergies SE nor any of its subsidiaries
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TotalEnergies' financial results or activities is provided in the
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SOURCE: TotalEnergies SE
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