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TotalEnergies has announced the final investment decision for the Lapa South-West oil development in the Santos Basin, 300 km off the coast of Brazil. The project represents an investment of almost US$1 billion.
The company owns a 45% stake in the scheme alongside Shell (30%), and Repsol Sinopec (25%).
Lapa South-West will be developed via three wells that will be connected to the existing Lapa FPSO, which is located 12 km away and has been producing the North-East portion of the Lapa field since 2016. The project will enhance output from the Lapa field by 25,000 oil barrels per day when production commences in 2025, bringing total production to 60,000 barrels per day.
