TotalEnergies along with its co-venturers announced that it has won production sharing contracts (PSC) for the Brazilian Atapu and Sépia pre-salt oil fields, the company said in a statement.

It elaborated that the PSC agreements for the two fields were offered by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) in the Transfer of Rights (ToR) Surplus Bidding Round.

Located at water depths of up to 2,000 meters, Atapu is a pre-salt oil field in the Santos Basin. It started production in 2020 and plateaued at 160,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO).

Regarding Sépia, it is located also in the Santos Basin, in water depths of about 2,000 meters. It started production in 2021 and seeking to plateau at 180,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO).

On this occasion, Patrick Pouyanné, Chairman and CEO of TotalEnergies, said “These assets benefit from world-leading well productivities to keep costs well below 20 $/boe. They also leverage technological innovations to limit greenhouse gas emissions to well below 20 kg/boe.

“Growing our presence in Brazil will enable us to accelerate the restructuring of our oil portfolio towards low-cost and low emissions hydrocarbon resources that will contribute to transform TotalEnergies to a sustainable multi-energy company. Moreover, TotalEnergies, through its subsidiary Total Eren, pursues its growth in renewables in Brazil with already a capacity of 300 MW.

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It should be noted that these two fields will increase TotalEnergies’ production in Brazil from the effective date of the PSC planned by end of April 2022, by 30,000 boe/d in 2022 growing to 50,000 boe/d from 2023.