TotalEnergies: Brazil: Start of Production From the First Development Phase of the Giant Mero Field
May 02 2022 - 7:35AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the
start of production from the first development phase of the giant
Mero field in the Libra block, more than 150 kilometers off the
coast of Rio de Janeiro, in the prolific pre-salt area of the
Santos Basin.
Launched in late 2017, this first phase (Mero-1) includes a
floating production, storage and offloading unit (FPSO) with a
production capacity of 180,000 barrels of oil per day.
This first phase will be followed by three additional
development phases, with the Mero-2, Mero-3 and Mero-4 FPSOs, each
with a production capacity of 180,000 barrels per day and
production start-ups scheduled between 2023 and 2025.
“The production start-up of the first permanent FPSO in Libra
block is a new milestone for TotalEnergies in Brazil. This
start-up, along with the entry into Atapu and Sépia fields,
officially signed on April 27, will increase TotalEnergies
production in the pre-salt Santos Basin, a key growth area for the
Company, by 30,000 barrels per day in the second quarter and by
60,000 barrels per day in the fourth quarter of 2022 to reach
120,000 barrels per day by end of 2022. said Patrick Pouyanné,
Chairman and CEO of TotalEnergies. “This development will
continue with the addition of three FPSOs in the coming years, all
already under construction, which will deliver production of more
than 650,000 barrels of oil equivalent per day in 2026. With large
resources and a well productivity amongst the best in the world,
this development illustrates TotalEnergies’ strategy of focusing on
low cost, low emissions assets.”
The Mero field has been in pre-production since 2017 with the
50,000 barrels of oil per day Pioneiro de Libra FPSO.
The Mero unitized field is operated by Petrobras (38.6%), in
partnership with TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC
(9.65%), CNOOC Limited (9,65%) and Pré-Sal Petróleo SA -PPSA
(3.5%), representing the Government in the non-contracted area.
***
About TotalEnergies in Brazil TotalEnergies has been
present in Brazil for over 40 years, and it today employs more than
3,000 people in all its business segments, covering activities in
exploration and production, gas, renewable energies, lubricants,
chemicals, and distribution. TotalEnergies Exploration and
Production’s portfolio currently includes 8 assets, of which 3 are
operated. In 2021, the Company’s production in the country averaged
49,000 barrels of oil equivalent per day. In October 2019, a
consortium led by TotalEnergies was awarded Block C-M-541, located
in the Campos Basin, in the 16th Bidding Round held by the National
Agency of Petroleum, Natural Gas and Biofuels (ANP) and the first
exploration drilling on the Marolo prospect is in progress. In
December 2021, TotalEnergies, as part of the Transfer of Right
Surplus bid round, was awarded two new non-operated Production
Sharing Contracts on the Atapu Surplus (22.5%) and Sépia Surplus
(28%) units, which were signed on April 27, 2022. In April 2022,
TotalEnergies has been awarded 2 deep offshore exploration blocks
in the 3rd Permanent Offer Cycle held by Brazil's National Agency
of Petroleum, Natural Gas, and Biofuels (ANP). In 2017,
TotalEnergies and Petrobras formed a Strategic Alliance
encompassing exploration and production and gas, renewables and
power activities. Through the Alliance, the two companies are
implementing R&D projects on topics such as artificial
intelligence leading to efficiency gains, with direct applications
in Brazil. TotalEnergies entered the fuel distribution market in
Brazil with the acquisition in December 2018 of Grupo Zema’s
distribution activities. TotalEnergies thus owns a network of
nearly 240 service stations, as well as several storage facilities
for petroleum products and ethanol. TotalEnergies, through its
subsidiary Total Eren, pursues its growth in renewables in Brazil
with already a capacity of 300 MW.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our 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.
@TotalEnergies l TotalEnergies l TotalEnergies
l TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities.
TotalEnergies SE has no liability for the acts or omissions of
these entities. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither
TotalEnergies SE nor any of its subsidiaries assumes any obligation
to update publicly any forward-looking information or statement,
objectives or trends contained in this document whether as a result
of new information, future events or otherwise. Information
concerning risk factors, that may affect TotalEnergies’ financial
results or activities is provided in the most recent Registration
Document, the French-language version of which is filed by
TotalEnergies SE with the French securities regulator Autorité des
Marchés Financiers (AMF), and in the Form 20-F filed with the
United States Securities and Exchange Commission (SEC).
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220502005435/en/
TotalEnergies Contacts Media Relations: +33 (0)1 47 44 46
99 l presse@totalenergies.com l @TotalEnergiesPR Investor
Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From Mar 2024 to Apr 2024
TotalEnergies (NYSE:TTE)
Historical Stock Chart
From Apr 2023 to Apr 2024