REG-TotalEnergies SE Brazil: TotalEnergies Announces Oil Discovery in the Sépia Area

TotalEnergies SEAnnouncement

31/10/2022 13:45

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Brazil: TotalEnergies Announces Oil Discovery in the Sépia Area

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces an oil discovery by
the Pedunculo well, located in the north-west of the Sépia oil field,
approximately 250 km off the coast of Rio de Janeiro, Brazil.

This discovery lies within the Sépia Coparticipated Area, which covers the
Sépia Transfer of Rights (ToR) contract (Petrobras, 100%) and the Sepia ToR
Surplus Production Sharing Contract awarded in December 2021 to Petrobras
(30%), TotalEnergies (28%), QatarEnergy (21%) and Petronas (21%), with Pre-Sal
Petróleo S.A. (PPSA) as manager.

The Sépia Co-participated Area is operated by Petrobras, with a stake of
51.9%. TotalEnergies holds 19.2% net interest, alongside QatarEnergy (14.4%)
and Petronas (14.4%). The Sépia shared reservoir is currently producing
170,000 barrels of oil per day.

“This is excellent news, just a few months after concluding our entry into
the world-class Sépia field in Brazil, where we are already benefitting from
the production performance from the first FPSO," said David Mendelson, Senior
Vice President, Americas at TotalEnergies Exploration & Production. “The
resources confirmed by the Pedunculo well appear to exceed pre-drill
expectations and add to the potential for future development of the area.
Thanks to their exceptional productivity and the innovative technologies used
in their developments, these resources fully fit in TotalEnergies’ low-cost,
low-emission oil portfolio.”

The well was drilled at a water depth of approximately 2,200 meters. The net
thickness of the well’s oil column is one of the highest ever recorded in
Brazil. Operations to characterize the reservoir and measure the extent of the
discovery are ongoing.

***

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
eight assets, of which three are operated. In 2021, the Company’s production
in the country averaged 49,000 barrels of oil equivalent per day. This figure
is expected to exceed 100,000 in 2022.

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.

In December 2021, TotalEnergies, bidding in the Transfer of Rights Surplus
round, was awarded two new non-operated Production Sharing Contracts on the
Atapu Surplus (22.5%) and Sépia Surplus (28%) units, which were signed in
late April 2022.

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.

Contacts TotalEnergies

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

@TotalEnergies
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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).



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