TotalEnergies and its co-venturers Petrobras, QatarEnergy and PETRONAS Petróleo Brasil Ltda (PPBL) have signed on 31 May 2023 the Production Sharing Contract (PSC) for the Agua Marinha block, which was awarded in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore. The work program includes drilling one firm exploration well during the exploration period.

“The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward looking to exploring the block and drilling the Touro prospect” said Kevin McLachlan, Senior Vice President, Exploration of TotalEnergies. “Offshore Brazil, with its material low-cost, low-emission resources is a core area for the Company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”

TotalEnergies will participate in the block with a 30% interest, alongside operator Petrobras (30%), QatarEnergy (20%) and PPBL (20%).

TotalEnergies in Brazil

• TotalEnergies has been operating in Brazil for almost 50 years, through six subsidiaries, and today employs more than 3,000 people in its business segments, in Exploration & Production, gas, renewable electricity (solar and wind), lubricants, chemicals and distribution.
• TotalEnergies' Exploration & Production portfolio currently includes 11 licenses, of which 4 are operated. In 2022, the Company's average production in the country was 104,000 barrels of oil equivalent per day.
• TotalEnergies is investing in the growth of the renewable energy segment in Brazil. TotalEnergies' subsidiary Total Eren has 300 MW of solar and wind projects in operation. In October 2022, the company entered into a partnership with Casa dos Ventos, Brazil's leading renewable energy player, to jointly develop a 12 GW renewable energy portfolio.
• TotalEnergies is also active in the Brazilian fuel distribution market with a network of about 240 filling stations as well as several storage facilities for petroleum products and ethanol.

KeyFacts Energy: Total Brazil country profile