REG-TotalEnergies SE Brazil: TotalEnergies Expands Its Pre-Salt Footprint on Giant Low-Cost and Low Emissions Reserves

TotalEnergies SEAnnouncement

17/12/2021 16:25

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Brazil: TotalEnergies Expands Its Pre-Salt Footprint on Giant Low-Cost and Low
Emissions Reserves

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its co-venturers have been
today successful in winning the Production Sharing Contracts (PSC) of the
Atapu and Sépia pre-salt oil fields offered by Brazil’s National Agency of
Petroleum, Natural Gas and Biofuels (ANP) in the Transfer of Rights (ToR)
Surplus Bidding Round.

Atapu is a pre-salt oil field in the Santos Basin, located in water depths of
about 2,000 meters. Production started in 2020 and has reached a plateau of
160,000 barrels per day with a first Floating, Production, Storage and
Offloading unit (FPSO). A second FPSO is planned to be sanctioned, which would
increase the overall oil production of the field to around 350,000 b/d.
TotalEnergies, with a 22.5% interest, alongside operator Petrobras (52.5%) and
Shell (25%) are partners in the Atapu Production Sharing Contract.

Sépia is located as well in the Santos Basin, in water depths of about 2,000
meters. Production started in 2021 and is targeting a plateau of 180,000
barrels per day with a first Floating, Production, Storage and Offloading unit
(FPSO). A second FPSO is planned to be sanctioned, which would increase the
overall oil production of the field to around 350,000 b/d. TotalEnergies, with
a 28% interest, alongside operator Petrobras (30%), QatarEnergy (21%) and
Petronas (21%) are partners in the Sépia Production Sharing Contract.

Production from both fields will contribute to increase TotalEnergies’
production in Brazil from the effective date of the PSC planned by end of
April 2022, with 30,000 boe/d in 2022 growing to 50,000 boe/d from 2023.

“With the successful bids on Atapu and Sépia, TotalEnergies further expands
its footprint and production in the pre-salt Santos Basin, a key growth area
for the Company. These are unique opportunities to access giant low-cost and
low emissions oil reserves, in line with TotalEnergies' new strategy”, said
Patrick Pouyanné, Chairman and CEO of TotalEnergies. “These assets benefit
from world-leading well productivities to keep costs well below 20 $/boe. They
also leverage technological innovations to limit greenhouse gas emissions to
well below 20 kg/boe. Growing our presence in Brazil will enable us to
accelerate the restructuring of our oil portfolio towards low-cost and low
emissions hydrocarbon resources that will contribute to transform
TotalEnergies to a sustainable multi-energy company. Moreover, 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 105,000 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.
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).

TotalEnergies 

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