TotalEnergies Wins New Exploration License in Brazil

(TotalEnergies, 19.Dec.2022) — TotalEnergies, and its co-venturers QatarEnergy and Petronas Petróleo Brasil Ltda (PPBL) have won the Agua Marinha block today in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP). Petrobras has exercised their right to take 30% Participating Interest and Operatorship.

Agua Marinha is a large block of 1,300 km2, about 140 km from onshore, located in the pre-salt Campos Basin. 

“TotalEnergies is pleased to expand its presence in the Campos Basin with this new exploration block, alongside three strategic partners. This is in line with our strategy to focus exploration on selected high potential basins which can deliver material low cost, low carbon intensity resources,” said Kevin McLachlan, Senior Vice President, Exploration of TotalEnergies. 

TotalEnergies will participate in the block with a 30% interest, alongside Petrobras operator (30%), QatarEnergy (20%) and PPBL (20%). 

The entry into this block follows the entry into 2 blocks, S-M-1815 and S-M-1711, in the South Santos basin during the 3rd Cycle of the Permanent offer that took place on 13 April 2022.  

About TotalEnergies in Brazil

TotalEnergies has been operating in Brazil for over 40 years, and now employs more than 3,000 people across its business segments, covering activities in exploration and production, gas, renewable energies, lubricants, chemicals, and distribution.
TotalEnergies’ Exploration & Production portfolio currently includes ten assets, of which four are operated. In 2021, the Company’s production in the country averaged 49,000 barrels of oil equivalent per day. This figure is expected to exceed 100,000 in 2022.
In 2017, TotalEnergies and Petrobras formed a Strategic Alliance in exploration and production, and gas, renewables and power activities. The Alliance allows the two companies to implement R&D projects in fields such as artificial intelligence, to generate efficiency gains, with direct applications in Brazil.
In December 2018, TotalEnergies entered Brazil’s fuel distribution market with the acquisition of Grupo Zema’s distribution activities, giving TotalEnergies a network of nearly 240 service stations, as well as several storage facilities for petroleum products and ethanol.
In December 2021, TotalEnergies, bidding in the Transfer of Rights Surplus round, was awarded two new non-operated Production Sharing Contracts on the Atapu Surplus (22.5%) and Sépia Surplus (28%) units, which were signed in late April 2022.
Through its subsidiary Total Eren, TotalEnergies is pursuing its growth in the Brazilian renewables sector, to build on its current capacity of 300 MW. In October 2022, TotalEnergies partnered with Brazil’s leading renewable energy player Casa dos Ventos to jointly develop a 12 GW renewable energy portfolio.

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