(CercleFinance.com) – TotalEnergies announces that it has approved the final investment decision for the development of Lapa South-West, a project in which it operates with a 45% stake, in partnership with Shell (30%) and Repsol Sinopec (25 %).
Located in the Santos basin, approximately 300 kilometers from the Brazilian coast, Lapa South-West will be developed using three wells connected to the Lapa FPSO, 12 kilometers away, which is currently producing the North-East part of the Lapa field for 2016.
When it starts production, scheduled for 2025, Lapa South-West will increase production from the Lapa field by 25,000 barrels of oil per day, bringing it to 60,000 barrels of oil per day. This development represents an investment of approximately one billion dollars.
“Given its design and the synergies with existing facilities, this project illustrates TotalEnergies’ strategy, which favors low-cost, low-emission assets,” comments David Mendelson, Americas Director of Exploration-Production.