REG-TotalEnergies SE TotalEnergies: Brazil: Start of Production From the First Development Phase of the Giant Mero Field

TotalEnergies SEAnnouncement

03/05/2022 07:00

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TotalEnergies: Brazil: Start of Production From the First Development Phase of
the Giant Mero Field

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the start of
production from the first development phase of the giant Mero field in the
Libra block, more than 150 kilometers off the coast of Rio de Janeiro, in the
prolific pre-salt area of the Santos Basin.

Launched in late 2017, this first phase (Mero-1) includes a floating
production, storage and offloading unit (FPSO) with a production capacity of
180,000 barrels of oil per day.

This first phase will be followed by three additional development phases, with
the Mero-2, Mero-3 and Mero-4 FPSOs, each with a production capacity of
180,000 barrels per day and production start-ups scheduled between 2023 and
2025.

“The production start-up of the first permanent FPSO in Libra block is a new
milestone for TotalEnergies in Brazil. This start-up, along with the entry
into Atapu and Sépia fields, officially signed on April 27, will increase
TotalEnergies production in the pre-salt Santos Basin, a key growth area for
the Company, by 30,000 barrels per day in the second quarter and by 60,000
barrels per day in the fourth quarter of 2022 to reach 120,000 barrels per day
by end of 2022. said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
“This development will continue with the addition of three FPSOs in the
coming years, all already under construction, which will deliver production of
more than 650,000 barrels of oil equivalent per day in 2026. With large
resources and a well productivity amongst the best in the world, this
development illustrates TotalEnergies’ strategy of focusing on low cost, low
emissions assets.”

The Mero field has been in pre-production since 2017 with the 50,000 barrels
of oil per day Pioneiro de Libra FPSO.

The Mero unitized field is operated by Petrobras (38.6%), in partnership with
TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC Limited
(9,65%) and Pré-Sal Petróleo SA -PPSA (3.5%), representing the Government in
the non-contracted area.

***

About TotalEnergies in Brazil

TotalEnergies has been present in Brazil for over 40 years, and it today
employs more than 3,000 people in all its business segments, covering
activities in exploration and production, gas, renewable energies, lubricants,
chemicals, and distribution.

TotalEnergies Exploration and Production’s portfolio currently includes 8
assets, of which 3 are operated. In 2021, the Company’s production in the
country averaged 49,000 barrels of oil equivalent 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 the National Agency of
Petroleum, Natural Gas and Biofuels (ANP) and the first exploration drilling
on the Marolo prospect is in progress. In December 2021, TotalEnergies, as
part of the Transfer of Right Surplus bid round, was awarded two new
non-operated Production Sharing Contracts on the Atapu Surplus (22.5%) and
Sépia Surplus (28%) units, which were signed on April 27, 2022. In April
2022, TotalEnergies has been awarded 2 deep offshore exploration blocks in the
3(rd) Permanent Offer Cycle held by Brazil's National Agency of Petroleum,
Natural Gas, and Biofuels (ANP).

In 2017, TotalEnergies and Petrobras formed a Strategic Alliance encompassing
exploration and production and gas, renewables and power activities. Through
the Alliance, the two companies 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 nearly 240 service stations,
as well as several storage facilities for petroleum products and ethanol.
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 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.

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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 Contacts 

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



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