TotalEnergies and Petrobras launch the extension of oil fields in Brazil

TotalEnergies and Petrobras announce the extension of the Atapu and Sépia oil fields in Brazil, significantly increasing their production capacity.

Share:

TotalEnergies and Petrobras, with their partners, have taken the FID (Final Investment Decision) for the second phases of the Atapu and Sépia oilfield developments. These fields, located offshore São Paulo and Rio de Janeiro, have been in operation since 2020 and 2021 respectively. At present, Atapu produces 150,000 barrels a day and Sepia 180,000 barrels a day. Production capacity will increase to 225,000 barrels per day for each field in the second phase, scheduled to start in 2029. Nicolas Terras, Senior Vice President Exploration-Production at TotalEnergies, said the decision marks a new stage in the company’s growth in Brazil.

“Brazil will soon represent more than 200,000 boe/d of net production,” he added, stressing the importance of these projects in maintaining TotalEnergies’ production above 200,000 barrels per day in this key country.

Partnerships and investment breakdown

TotalEnergies holds a 15% stake in the Atapu field and a 16.9% stake in the Sepia field, while Petrobras is the main operator with 65.7% and 55.3% respectively. Shell owns 16.7% of Atapu, and Petronas and QatarEnergy each own 12.7% of Sepia. This collaboration between major energy companies underlines the complexity and scale of these expansion projects. These investments are part of TotalEnergies‘ wider strategy to strengthen its presence in Brazil, a crucial market for the company. The decision to expand these oil fields comes despite warnings from the International Energy Agency in 2021, which had recommended against approving new oil and gas field projects beyond those already under development.

Production prospects and environmental challenges

Production from the Atapu and Sepia expansion phases is scheduled to start in 2029, increasing production capacity to 225,000 barrels per day for each field. This increase in production is essential for TotalEnergies to maintain its competitiveness and growth in the global energy market. However, these expansion plans are not without controversy. The CEO of TotalEnergies recently reaffirmed the need to develop new oil fields, despite growing concerns about the environmental impact of such projects. Critics point out that increasing oil production could contradict climate commitments and efforts to reduce greenhouse gas emissions.

Similar projects and TotalEnergies’ global strategy

In addition to the extensions in Brazil, TotalEnergies has announced the launch of a new oil project off the coast of Angola, with production scheduled from 2028 and a target of 70,000 barrels per day. These initiatives demonstrate the company’s commitment to diversifying and strengthening its global oil production, despite environmental challenges and regulatory pressures. TotalEnergies’ strategy emphasizes a balance between economic growth and environmental responsibility. The company has to navigate a complex landscape, where investments in fossil fuels are increasingly scrutinized and criticized by regulators and environmental activists.
The decision by TotalEnergies and Petrobras to expand the Atapu and Sépia oil fields is a major development for Brazil’s energy industry. These expansion projects should boost TotalEnergies’ production capacity and presence in the country. However, environmental challenges and persistent criticism of fossil fuel expansion will remain important issues for the future of these projects. As TotalEnergies continues to invest in major oil projects, the company will need to balance growth with sustainable and responsible practices to meet the expectations of regulators, investors and the public.

The expansion of the global oil and gas fishing market is accelerating on the back of offshore projects, with annual growth estimated at 5.7% according to The Insight Partners.
The Competition Bureau has required Schlumberger to divest major assets to finalise the acquisition of ChampionX, thereby reducing the risks of market concentration in Canada’s oilfield services sector. —
Saturn Oil & Gas Inc. confirms the acquisition of 1,608,182 common shares for a total amount of USD3.46mn, as part of its public buyback offer in Canada, resulting in a reduction of its free float.
OPEC slightly adjusts its production forecasts for 2025-2026 while projecting stable global demand growth, leaving OPEC+ significant room to increase supply without destabilizing global oil markets.
Talks between European Union member states stall on the adoption of the eighteenth sanctions package targeting Russian oil, due to ongoing disagreements over the proposed price ceiling.
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
An explosion at 07:00 at an HKN Energy facility forced ShaMaran Petroleum to shut the Sarsang field while an inquiry determines damage and the impact on regional exports.
The Canadian producer issues USD 237 mn in senior notes at 6.875 % to repay bank debt, repurchase USD 73 mn of 2027 notes and push most of its maturity schedule to 2030.
BP revised upwards its production forecast for the second quarter of 2025, citing stronger-than-expected results from its US shale unit. However, lower oil prices and refinery maintenance shutdowns weighed on overall results.
Belgrade is engaged in complex negotiations with Washington to obtain a fifth extension of sanctions relief for the Serbian oil company NIS, which is majority-owned by Russian groups.
European Union ambassadors are close to reaching an agreement on a new sanctions package aimed at reducing the Russian oil price cap, with measures impacting several energy and financial sectors.
Backbone Infrastructure Nigeria Limited is investing $15bn to develop a 500,000-barrel-per-day oil refinery in Ondo State, a major project aimed at boosting Nigeria’s refining capacity.
The Central Energy Fund’s takeover of the Sapref refinery introduces major financial risks for South Africa, with the facility still offline and no clear restart strategy released so far.
PetroTal Corp. records production growth in the second quarter of 2025, improves its cash position and continues replacing key equipment at its main oil sites in Peru.
An explosion caused by a homemade explosive device in northeastern Colombia has forced Cenit, a subsidiary of Ecopetrol, to temporarily suspend operations on the strategic Caño Limón-Coveñas pipeline, crucial to the country's oil supply.
U.S. legislation eases access to federal lands for oil production, but fluctuations in crude prices may limit concrete impacts on investment and medium-term production, according to industry experts.
Permex Petroleum Corporation has completed a US$2mn fundraising by issuing convertible debentures, aimed at strengthening its cash position, without using intermediaries, and targeting a single institutional investor.
Petróleos de Venezuela S.A. (PDVSA) recorded $17.52bn in export sales in 2024, benefiting from increased volumes due to U.S. licences granted to foreign partners, according to an internal document seen by Reuters.
The detection of zinc in Mars crude extracted off the coast of Louisiana forced the US government to draw on its strategic reserves to support Gulf Coast refineries.
Commissioning of a 1.2-million-ton hydrocracking unit at the TANECO site confirms the industrial expansion of the complex and its ability to diversify refined fuel production.