TotalEnergies: TotalEnergies Announces Oil Discovery in the Sépia Area

TotalEnergies announces an oil discovery by the Pedunculo well, located in the north-west of the Sépia oil field, approximately 250 km off the coast of Rio de Janeiro, Brazil.

This discovery lies within the Sépia Coparticipated Area, which covers the Sépia Transfer of Rights (ToR) contract (Petrobras, 100%) and the Sepia ToR Surplus Production Sharing Contract awarded in December 2021 to Petrobras (30%), TotalEnergies (28%), QatarEnergy (21%) and Petronas (21%), with Pre-Sal Petróleo S.A. (PPSA) as manager.

The Sépia Co-participated Area is operated by Petrobras, with a stake of 51.9%. TotalEnergies holds 19.2% net interest, alongside QatarEnergy (14.4%) and Petronas (14.4%). The Sépia shared reservoir is currently producing 170,000 barrels of oil per day.

“This is excellent news, just a few months after concluding our entry into the world-class Sépia field in Brazil, where we are already benefitting from the production performance from the first FPSO,” said David Mendelson, Senior Vice President, Americas at TotalEnergies Exploration & Production. “The resources confirmed by the Pedunculo well appear to exceed pre-drill expectations and add to the potential for future development of the area. Thanks to their exceptional productivity and the innovative technologies used in their developments, these resources fully fit in TotalEnergies’ low-cost, low-emission oil portfolio.”

The well was drilled at a water depth of approximately 2,200 meters. The net thickness of the well’s oil column is one of the highest ever recorded in Brazil. Operations to characterize the reservoir and measure the extent of the discovery are ongoing.