REG-TotalEnergies SE TotalEnergies SE: Brazil: Launch of the Lapa South-West Project

TotalEnergies SEAnnouncement

16/01/2023 08:00

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TotalEnergies SE: Brazil: Launch of the Lapa South-West Project

 

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 per day.

This development represents an investment of approximately $1 billion.

“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.

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 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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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.
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 Universal 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).

TotalEnergies 

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