By Christian Moess Laursen


TotalEnergies and Petrobras gave the go-ahead to the second development phase of the Atapu and Sepia oil fields offshore Brazil.

French oil-and-gas major TotalEnergies said Monday that the development involves the launch of two new floating production-storage and offloading--FPSO--vessels at the fields in the Santos Basin, around 300 kilometers, or 186 miles, southeast of the city of Santos.

Both vessels will have capacity to carry 225,000 barrels of oil a day each for what will be Atapu-2 and Sepia-2.

Currently, the FPSO vessel linked to the Atapu field has a capacity of 150,000 barrels a day, while the vessel linked to Sepia has a capacity of 180,000 barrels a day.

Sepia-2 and Atapu-2--which are the 10th and 11th FPSO vessels for TotalEnergies in Brazil--will help TotalEnergies maintain an output above 200,000 oil-equivalent barrels a day from Brazil, a key country for the company.

Paris-based TotalEnergies owns 15% stake in Atapu and a 16.9% stake in Sepia. Brazil state-owned Petroleo Brasileiro, or Petrobras, operates them both and holds a 65.7% and 55.3% stake, respectively.

The two new vessels are expected to start producing from 2029.


Write to Christian Moess Laursen at christian.moess@wsj.com


(END) Dow Jones Newswires

05-27-24 0349ET