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TotalEnergies SE ( (FR:TTE) ) has provided an announcement.
TotalEnergies has begun production from its Lapa South-West project in Brazil’s Santos Basin, tying three new wells into the existing Lapa FPSO about 300 kilometers offshore. The development lifts output from the Lapa field by 25,000 barrels per day, using spare capacity in current infrastructure to keep costs and emissions low.
The start-up strengthens Brazil’s role as a growth engine for TotalEnergies, following the Mero-4 ramp-up and ahead of the Atapu-2 and Sépia-2 projects later in the decade. The added volumes support the company’s plan to increase global production while reinforcing its deepwater position in a key pre-salt basin closely watched by investors and industry peers.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active in oil and biofuels, natural gas, biogas, low-carbon hydrogen, renewables and electricity. In Brazil, where it has operated for 50 years and employs around 4,000 people, its portfolio spans exploration and production, gas, renewable power, lubricants and chemicals, and it is expanding a 12 GW renewables pipeline with partner Casa dos Ventos.
See more insights into TTE stock on TipRanks’ Stock Analysis page.