REG-TotalEnergies SE Brazil: TotalEnergies Launches Phase 4 On the Giant Mero Field Development

TotalEnergies SEAnnouncement

03/08/2021 07:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20210803:nBw1q5kXba&default-theme=true


Brazil: TotalEnergies Launches Phase 4 On the Giant Mero Field Development

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partners have taken the
investment decision for the fourth phase of the Mero project (Libra block),
located deep offshore, 180 kilometers off the coast of Rio de Janeiro, in the
prolific pre-salt area of the Santos Basin.

The Mero 4 Floating Production Storage and Offloading (FPSO) unit will have a
liquid treatment capacity of 180,000 barrels per day and is expected to start
up by 2025. It follows investment decisions for Mero 1 (startup expected in
2022), Mero 2 (startup expected in 2023) and Mero 3 (startup expected in 2024)
FPSOs. All of them have a liquid processing capacity of 180,000 barrels per
day.

"The decision to launch Mero 4 marks the last milestone in the large-scale
development of the Mero oil resources. This giant project is in line with
TotalEnergies' growth strategy in Brazil which is to produce oil at a
competitive cost out of world class fields while limiting CO₂ emissions to a
strict minimum", said Arnaud Breuillac, President Exploration & Production
at TotalEnergies.

The Mero field has been in pre-production since 2017 with the
50,000-barrel-per-day Pioneiro de Libra FPSO. The Libra Consortium is operated
by Petrobras (40%) as part of an international partnership including
TotalEnergies (20%), Shell Brasil (20%), CNOOC Limited (10%) and CNPC (10%).
Pre-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.

TotalEnergies in Brazil

TotalEnergies has been present in Brazil for over 40 years and has more than
3,000 employees in the country. The Company operates in all segments at the
country: exploration and production, gas, renewable energies, lubricants,
chemicals, and distribution.

TotalEnergies Exploration and Production’s portfolio currently includes 12
blocks. In 2020, the Group’s production in the country averaged 35,000
barrels of oil 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 Brazil’s National Petroleum Agency (ANP) and the first exploration
drilling is expected to begin in late 2021.

In 2017, TotalEnergies and Petrobras formed a Strategic Alliance encompassing
exploration and production and gas, renewables and power activities. Through
the Alliance, the two groups 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 248 service stations, as well
as several storage facilities for petroleum products and ethanol.

About TotalEnergies

TotalEnergies is a broad energy company that produces and markets energies on
a global scale: oil and biofuels, natural gas and green gases, renewables and
electricity. Our 105,000 employees are committed to energy that is ever more
affordable, clean, 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 Contacts 

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

Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. 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.



View source version on businesswire.com:
https://www.businesswire.com/news/home/20210802005866/en/
(https://www.businesswire.com/news/home/20210802005866/en/)

TotalEnergies SE


Copyright Business Wire 2021