Final Investment Decision Taken for Major FPSO Projects in Brazil

Atapu and Sépia consortiums have taken the final investment decision (FID) for the second development phase of oil and gas fields in the Santos Basin, Brazil. The Atapu 2 and Sépia 2 projects involve the development of two floating production storage and offloading (FPSO) units.

The Atapu field has been producing since 2020 through the P-70 FPSO unit, with a production capacity of 150,000 barrels of oil per day (bopd). The second development phase, Atapu-2, will comprise a new-built FPSO of 225,000 bopd capacity. TotalEnergies owns 15%, Petrobras owns 65.7% as an operator, Shell has 16.7%, Petrogal has 1.7%, and PPSA (0.9%).

The Sépia field has been producing since 2021 through the Carioca FPSO unit, with a production capacity of 180,000 bopd. The second development phase, Sépia-2, will also comprise a new-built FPSO of 225,000 bopd capacity. TotalEnergies owns 16.9% of the Sépia field, Petrobras owns 55.3 as an operator, Petronas has 12.7%, QatarEnergy has 12.7% and Petrogal has 2.4%.

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The two FPSOs are expected to start producing in 2029. They have been designed to minimize greenhouse gas emissions through an all-electric configuration and technologies such as waste heat recovery, closed flare, cargo oil tank gas recovery, and variable speed drive for compressors and pumps.

“The decision to launch Sépia-2 and Atapu-2 is a new milestone in our strong growth story in Brazil, a core area for the company thanks to its world-class low-emission and low-cost oil resources,” said Nicolas Terraz, President of Exploration & Production of TotalEnergies. Brazil is already planning to develop massive FPSO projects.

Facts About Sépia-2

The Sépia joint venture is a partnership between QatarEnergy, TotalEnergies, Petronas, Petrogal Brazil, and Petrobras (the operator). The consortium signed a contract with Seatrium O&G Americas Limited to build a floating production storage and offloading (FPSO) unit to operate in the Sepia field's ultra-deep waters.

The FPSO will have a crude oil production capacity of 225,000 barrels of oil per day and a gas processing capacity of ten million cubic meters per day.

The FPSO’s construction will be carried out in Brazil, China, and Singapore shipyards. It will be the second FPSO in the Sepia field (in addition to the already operating Carioca FPSO) and will target the northern part of the Sepia field.

Facts About Atapu 2

Atapu-2 is the second phase of the Atapu field development, which has been producing since 2020 through the P-70 Floating Production Storage and Offloading (FPSO) unit, with a production capacity of 150,000 barrels of oil per day. The Atapu-2 project will involve the deployment of a second FPSO vessel at the Atapu field. This new unit will have a maximum operational capacity of 225,000 barrels of oil daily.

In addition to 16 new wells, four existing wells will be re-routed from the P70 FPSO (Atapu-1). The new unit will feature an all-electric capability to lower carbon intensity for production processes. This commitment to lower-carbon opportunities reflects the consortium's dedication to investing in higher-margin, lower-carbon opportunities.

The Atapu-2 project reinforces the importance of Brazil within the global deep-water portfolio of the consortium members and their strategic partnership with Petrobras worldwide. The two FPSOs are expected to start producing in 2029.

Read: FPSO vs. FSO: Understanding the Key Differences and Applications

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