REG-TotalEnergies SE Brazil: First oil of Mero-4

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Brazil: First oil of Mero-4

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces first oil from the
fourth development phase of the Mero field on the Libra block, located 180
kilometers off the coast of Rio de Janeiro, Brazil, in the pre-salt area of
the Santos Basin.

Launched in August 2021, this new phase called “Mero-4” will connect 12
wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and
Offloading) unit, with a production capacity of 180,000 barrels of oil per day
(b/d). This project has been designed to minimize greenhouse gas emissions,
with reinjection of the associated gas into the reservoir and zero routine
flaring.

This startup brings Mero’s total production capacity to 770,000 b/d through
five FPSOs. This will represent around 100,000 boe/d in TotalEnergies share at
full capacity.

“The start-up of Mero-4 marks the end of the development of this world-class
field -with the commissioning of four FPSOs in three years- and the start of a
long-term production phase generating robust free cash flow. This is a great
achievement for the Libra consortium and a major milestone for TotalEnergies
in Brazil, a key growth country for our Company,” said Nicolas Terraz,
President Exploration & Production of TotalEnergies. “With its vast
resources and high productivity, the Mero field delivers low cost and low
emission oil production in line with our Company strategy and contributes
significantly to the achievement of our objective to grow our production by 3%
per year between 2024 and 2030.”

Mero is a unitized field, operated by Petrobras (38.6%), in partnership with
TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC (9.65%) and
Pré-Sal Petróleo S.A (PPSA) (3.5%) representing the Government in the
non-contracted area.

***

About TotalEnergies in Brazil

TotalEnergies has been operating in Brazil for 50 years and employs close to
4,000 people in the country. Its presence encompasses Exploration &
Production, gas, renewable electricity (solar and wind), lubricants and
chemicals.

TotalEnergies' Exploration & Production portfolio in the country currently
includes 11 licenses, of which four are operated. In 2024, the Company’s
average production in the country was 153,000 barrels of oil equivalent per
day.

TotalEnergies is investing in the growth of the renewable energy segment in
Brazil: in October 2022, it entered a partnership with Casa dos Ventos,
Brazil's leading renewable energy player, to jointly develop a 12 GW renewable
energy portfolio, including onshore wind, photovoltaic and battery storage.

About TotalEnergies

TotalEnergies is a global integrated 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 provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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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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(mailto:ir@totalenergies.com)



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