REG-TotalEnergies SE TotalEnergies - Brazil: First oil of Mero-3

TotalEnergies SEAnnouncement

30/10/2024 17:15

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TotalEnergies - Brazil: First oil of Mero-3

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces first oil from the
third 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 2020, “Mero-3” includes 15 wells connected to the
Marechal Duque de Caxias FPSO (Floating Production, Storage and Offloading
unit), with a production capacity of 180,000 barrels of oil per day (b/d).
Mero-3 has been designed to minimize greenhouse gas emissions, with
reinjection of the associated gas into the reservoir and zero routine flaring.
The FPSO will later be connected to the HISEP® pilot project, using an
innovative high pressure subsea separation technology. Currently under
development, this pilot project will separate oil from CO(2)-rich gas at the
bottom of the ocean and reinject the gas directly into the reservoir.

With the start-up of Mero-3, the overall production capacity of Mero field
will reach 590,000 b/d. An additional development phase of 180,000 b/d,
“Mero-4”, is currently under construction, with a start-up expected in
2025. At full capacity, production from the Mero field is expected to
represent over 100,000 b/d in TotalEnergies share.

“The production start-up of Mero-3, less than a year after the start-up
Mero-2, is a new milestone for TotalEnergies in Brazil, a key growth area for
our Company. With its vast resources and world-class productivity, the Mero
field delivers low cost and low emission oil production, in line with the
strategy of our Company”, said Nicolas Terraz, President Exploration &
Production of TotalEnergies. “In the coming years, we will continue to grow
our production in Brazil with Mero-4 project expected to start-up in 2025 and
the recently sanctioned Atapu-2 and Sépia-2 projects”.

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 almost 50 years and employs
more than 3,500 people in the country. Its presence encompasses Exploration
& Production, gas, renewable electricity (solar and wind), lubricants,
chemicals and distribution.

TotalEnergies' Exploration & Production portfolio in the country currently
includes 11 licenses, of which four are operated. Its average production was
135,000 barrels of oil equivalent per day in 2023.

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.

TotalEnergies is also active in the Brazilian fuel distribution market with a
network of about 240 filling stations as well as several storage facilities
for petroleum products and ethanol.

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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