TotalEnergies has approved the final investment decision of the $1 billion Lapa South-West oil development located in the Santos Basin offshore Brazil.
The field will be developed through three wells connected to the existing Lapa FPSO located 12 km away which has been producing the North-East Lapa field since 2016. First oil from Lapa South-West is expected in 2025.
At production startup, Lapa South-West will increase production from the Lapa field by 25,000 B/D of oil, bringing the overall production to 60,000 B/D.
“This latest development is an important milestone for TotalEnergies in Brazil that will increase its operated production in the pre-salt Santos Basin, a key growth area for the company" stated David Mendelson, senior vice president, Americas, at TotalEnergies Exploration & Production. “With its efficient engineering approach and synergies with existing facilities, this project illustrates TotalEnergies’ strategy of focusing on low-cost, low-emissions assets.”
TotalEnergies operates the project with a 45% interest in partnership with Shell (30%) and Repsol Sinopec (25%).
TotalEnergies has been operating in Brazil for over 40 years, and its current exploration and production portfolio includes ten licenses, of which four are operated. In addition, the company was awarded in December 2022 a new deepwater exploration nonoperated block in the Campos Basin (Agua Marinha, 30%) which should be signed in first half 2023.
During 2022, the company’s production in the country averaged 103,500 BOE/D.
