Brazil, an iconic example of the TotalEnergies strategy
TotalEnergies has operated in Brazil for nearly forty years and forged a long-term partnership with the country, where our multi-energy strategy is proving highly successful.
Low-cost, low-emission oil projects
Brazil’s oil and gas resources are among the world’s largest, particularly in the presalt reservoirs of the Santos Basin, located in deep waters off the coast of Rio de Janeiro.
As a long-time partner to the national oil company Petrobras, with whom it has signed a strategic partnership agreement, TotalEnergies has acquired stakes in several fields in production or development, some of which number among the world’s most prolific. The Company has interests in the Libra (20%), Iara (22.5%), Atapu (22.5%), Sepia (28%) and Lapa (45%) blocks, and has become the first international company from outside Brazil to develop a field in the country as operator.
These projects meet TotalEnergies’ criteria for developing and producing reserves only on the condition that they offer low carbon intensity and competitive technical costs (see insert).
TotalEnergies’ production share in Brazil climbed to 135,000 barrels of oil equivalent (boe) per day in 2023, and is expected to reach 200,000 boe per day by 2026.
LNG: A solid partnership with Compass, Brazil’s leading natural gas distributor
In 2021 TotalEnergies signed a ten-year contract with Compass to supply up to 3 million tons of liquefied natural gas (LNG) annually to the regasification terminal at the Port of Santos in São Paulo, Brazil’s economic powerhouse. That partnership is bolstering our position as the world’s third biggest distributor of LNG.
Watch the video “Brazil, Energy Transition in Progress” on totalenergies.com
Renewables: A dynamic, deregulated market for electricity
Renewable energies are seeing robust growth in Brazil. TotalEnergies has been operating in renewables since 2013, and signed a strategic partnership with Casa dos Ventos, Brazil’s foremost developer of onshore wind farms in October 2022, to develop a 12 GW renewables portfolio of wind and solar projects. That transaction is one of TotalEnergies’ biggest investments to date in renewable energy. It testifies to its determination to pursue further growth in power generation worldwide as it builds the energy system of the future.
Estimated daily production of
200,000barrels of oil equivalent by 2026
Joint venture with
Casa dos Ventos: 12 GWto be developed
Producing oil at low cost and low emissions
The wells located in the Santos and Campos Basins meet TotalEnergies’ two main criteria for development: costs of less than $20 a barrel and emissions under 19 kilograms of CO2 per barrel of oil equivalent.
How? Thanks to the superb productivity of these wells, they can be developed at little expense: just one Mero well in the Libra field can produce 50,000 barrels a day, which is equivalent to the entire daily production of some oil-producing countries.
And TotalEnergies is working with its partners to prevent and further reduce the emissions associated with its production at the fields through the use of innovative technology. More recently, the partners announced the development of a pilot unit at the Mero field that can separate oil from CO2 -rich gas on the ocean floor, allowing the gas to be directly reinjected into the reservoir.
Also by TotalEnergies in Brazil…
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