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Quotes by TradingView

Start of production from first phase of the giant Mero field

03 May, 2022
36
Mero field
Image courtesy of TotalEnergies.

Production from the first development phase of TotalEnergies’ giant Mero field in Brazil has commenced.

Launched in late 2017, this first phase (Mero-1) includes a floating production, storage and offloading unit (FPSO) with a production capacity of 180,000 barrels of oil per day.

This will be followed by three additional development phases, with the Mero-2, Mero-3 and Mero-4 FPSOs, each with a production capacity of 180,000 barrels per day and production start-ups scheduled between 2023 and 2025.

Patrick Pouyanné, Chairman and CEO of TotalEnergies said the production start-up, along with the entry into Atapu and Sépia fields, will increase TotalEnergies’ production in the pre-salt Santos Basin. The company’s production will be boosted by 30,000 barrels per day in the second quarter and by 60,000 barrels per day in the fourth quarter of 2022 to reach 120,000 barrels per day by end of 2022.

“This development will continue with the addition of three FPSOs in the coming years, all already under construction, which will deliver production of more than 650,000 barrels of oil equivalent per day in 2026. With large resources and a well productivity amongst the best in the world, this development illustrates TotalEnergies’ strategy of focusing on low cost, low emissions assets.”

The Mero field has been in pre-production since 2017 with the 50,000 barrels of oil per day Pioneiro de Libra FPSO.

The Mero unitized field is operated by Petrobras (38.6%), in partnership with TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC Limited (9,65%) and Pré-Sal Petróleo SA -PPSA (3.5%), representing the Government in the non-contracted area.

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