TotalEnergies EP Brasil has signed an agreement with Shell Brasil to acquire an additional 3% interest in the Lapa offshore oil field, increasing its operated stake to 48%. The transaction also involves TotalEnergies divesting its 20% stake in the Gato do Mato project. Completion of the deal is subject to regulatory approvals and other customary conditions.

Located in the Santos Basin, approximately 270 kilometers off Brazil’s coast, the Lapa field is a strategic asset for TotalEnergies. Following the transaction, the company will hold a 48% interest, with Shell retaining 27% and Repsol Sinopec holding 25%.

The move comes ahead of the anticipated start-up of the Lapa South-West tie-back project, approved in 2023. The development is expected to add 25,000 barrels per day (bpd) to existing output, raising total production from the field to 60,000 bpd by year-end.

"This agreement strengthens our position as operator of the Lapa field and supports our commitment to efficient, low-emission energy production," said Javier Rielo, Senior Vice President Americas, Exploration & Production at TotalEnergies.

The transaction is aligned with TotalEnergies' broader strategy to prioritize low-cost, low-carbon projects. By increasing its stake in Lapa and exiting Gato do Mato, the company is focusing its resources on fields that offer scalable production and greater control.

In parallel, TotalEnergies is expanding its footprint in Brazil’s renewable energy market. A 2022 partnership with Casa dos Ventos aims to develop a renewable portfolio of up to 12 gigawatts, reinforcing the company's commitment to the energy transition.

Strengthening Presence in Brazil

TotalEnergies has maintained a strong presence in Brazil for five decades, employing nearly 4,000 people across its business segments, including oil and gas, renewables, lubricants, and elastomer processing. In 2024, the company’s average production in Brazil stood at 153,000 barrels of oil equivalent per day.

With the latest transaction, TotalEnergies continues to consolidate its role as a key energy operator in Brazil, leveraging its portfolio to support both oil production and the transition to cleaner energy sources.

Connect with Key Decision-Makers in Brazil's FPSO Industry

Subscribe to our Brazil FPSO Project and Tender Database to gain valuable insights into upcoming, ongoing, and completed FPSO projects.

Why Subscribe?

• Access Reliable Insights – Stay updated with high-quality information on FPSO developments.

• Discover Business Opportunities – Identify potential contracts, tenders, and partnerships.

• Get Key Stakeholder Contacts – Connect with industry leaders, decision-makers, and project owners.

• User-Friendly Platform – Navigate easily to find critical project details and timely updates.

Start a Free Demo Today and unlock new growth opportunities!