TotalEnergies and partners approve multi-billion dollar expansion in Santos Basin
In a pivotal move to boost oil production in Brazil’s prolific pre-salt Santos Basin, TotalEnergies, in collaboration with Petrobras (Petróleo Brasileiro S.A.) and other consortium partners, has announced the Final Investment Decision (FID) for the second phase of development at both the Atapu and Sépia fields. This decision underscores a significant advancement in the region’s capacity to exploit its rich offshore oil deposits.
Phase Two Development: Doubling Down on Capacity
Scheduled to begin operations in 2029, this new phase involves the construction of two new Floating Production Storage and Offloading (FPSO) units, each designed to handle an impressive capacity of 225,000 barrels of oil per day. These units, P-84 for Atapu and P-85 for Sépia, represent a leap in production capabilities and are planned for installation in water depths exceeding 2,000 meters.
The Atapu field, where production commenced in 2020 via the P-70 FPSO, sees TotalEnergies holding a 15% stake alongside major players like Petrobras (65.7%, operator), Shell (16.7%), Petrogal (1.7%), and PPSA (0.9%). Meanwhile, the Sépia field began its output in 2021 through the Carioca FPSO, with TotalEnergies owning 16.9% in partnership with Petrobras (55.3%, operator), Petronas (12.7%), QatarEnergy (12.7%), and Petrogal (2.4%).
![Expanded Development at Atapu and Sépia Fields Marks Significant Advancement in Brazil's Offshore Oil Sector](https://business-news-today.com/wp-content/uploads/2024/05/TotalEnergies-Petrobras-offshore-oil-production-650x371.webp)
Expanded Development at Atapu and Sépia Fields Marks Significant Advancement in Brazil’s Offshore Oil Sector
Technological and Environmental Innovations
Both FPSOs are engineered with cutting-edge technologies aimed at minimizing environmental impact. They boast all-electric configurations that include waste heat recovery systems, closed flare operations, cargo oil tank gas recovery, and variable speed drives for compressors and pumps, which are anticipated to cut greenhouse gas emissions significantly.
Nicolas Terraz, President Exploration & Production of TotalEnergies, highlighted the strategic importance of these developments: “The decision to launch Sépia-2 and Atapu-2 is a new milestone in our strong growth story in Brazil, a core area for the Company thanks to its world-class low-emission and low-cost oil resources.”
Economic and Strategic Implications
The expansion of these fields is not just a technical upgrade but a strategic endeavor that positions Brazil as a key player in the global oil market, enhancing its production capacity significantly. The projects are expected to maintain TotalEnergies’ production in Brazil above 200,000 barrels of oil equivalent per day, supporting the company’s long-term objectives in the region.
With the Atapu and Sépia expansions, TotalEnergies and its partners are setting new standards in offshore oil production, both in terms of capacity and environmental stewardship. These projects promise to reinforce Brazil’s position in the global energy landscape, fostering economic growth and advancing the technology frontier in deep-water oil extraction.
The forward-looking strategies reflect the scale and significance of this investment, making it a notable development in the energy sector. The integration of advanced environmental technologies further emphasizes the industry’s shift towards more sustainable practices.
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