REG-TotalEnergies SE TotalEnergies: Brazil: Start of Production from the Second Development Phase of the Mero field

TotalEnergies SEAnnouncement

02/01/2024 07:00

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TotalEnergies: Brazil: Start of Production from the Second Development Phase
of the Mero field

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):

TotalEnergies announces the start of production from the second development
phase of the Mero field on the Libra block located more than 180 kilometers
off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos
Basin.

Sanctioned in June 2019, this second development phase “Mero-2” includes
the Sepetiba FPSO (Floating Production, Storage and Offloading unit) with a
production capacity of 180,000 barrels of oil per day (b/d). The FPSO has been
designed for zero routine flaring to minimize greenhouse gas emissions, with
the associated gas reinjected into the reservoir.

Thanks to Mero-2, the Mero field will reach a production capacity of 410,000
b/d. Two additional development phases of 180,000 b/d each, Mero-3 and Mero-4,
are currently under construction, with start-ups expected by 2025. At full
capacity, production from the Mero field is expected to amount to more than
100,000 b/d in TotalEnergies share.

“The production start-up of Mero-2 is a new milestone for TotalEnergies in
Brazil, a key growth area for the Company. With its vast resources and
world-class productivity, the Mero development delivers low cost and low
emission oil production, in line with the strategy of our Company”, said
Patrick Pouyanné, Chairman and CEO of TotalEnergies.

The Mero filed 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%).

About TotalEnergies in Brazil

TotalEnergies has been operating in Brazil for almost 50 years, through six
subsidiaries, and today employs more than 3,500 people in its business
segments, in Exploration & Production, gas, renewable electricity (solar
and wind), lubricants, chemicals and distribution.

TotalEnergies' Exploration & Production portfolio currently includes 11
licenses, of which 4 are operated. In 2023, the Company's average production
in the country will reach approximately 140,000 barrels of oil equivalent per
day.

TotalEnergies is investing in the growth of the renewable energy segment in
Brazil. In October 2022, the company entered into 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 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, more sustainable, more reliable and accessible to as
many people as possible. Active in nearly 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.
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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