TotalEnergies Announces Production Start from Mero Field Phase 2

TotalEnergies is excited to announce the commencement of production from the second development phase of the Mero field in Brazil. Situated in the pre-salt area of the Santos Basin, off the coast of Rio de Janeiro, the Mero field is a significant milestone in TotalEnergies' growth strategy.

Mero-2 Development Phase

Sanctioned in June 2019, the Mero-2 development phase introduces the Sepetiba FPSO (Floating Production, Storage and Offloading unit) with a noteworthy production capacity of 180,000 barrels of oil per day. Notably, the FPSO has been meticulously designed for zero routine flaring, effectively minimizing greenhouse gas emissions. As a sustainability measure, the associated gas is reinjected into the reservoir.

Increased Production Capacity

With the completion of Mero-2, the Mero field's production capacity will soar to an impressive 410,000 barrels per day. Additionally, two more development phases, Mero-3 and Mero-4, are currently in progress and are anticipated to commence operations by 2025. Collectively, these developments will ultimately yield over 100,000 barrels per day in TotalEnergies' share.

A Sustainable Approach

Patrick Pouyanné, Chairman and CEO of TotalEnergies, expressed enthusiasm for the milestone achieved by stating, "The production start-up of Mero-2 is a new milestone for TotalEnergies in Brazil, a key growth area for the Company. With its vast resources and world-class productivity, the Mero development delivers low-cost and low-emission oil production, in line with the strategy of our Company."

Strong Partnership and Ownership

The Mero field is operated by Petrobras, with a 38.6% ownership stake. TotalEnergies, Shell Brasil, CNPC, CNOOC, and Pré-Sal Petróleo S.A (PPSA) collectively hold the remaining ownership interests in the field.

About TotalEnergies in Brazil

TotalEnergies is dedicated to making valuable contributions to Brazil's energy landscape. With a focus on sustainable and impactful initiatives, TotalEnergies remains committed to driving growth, while reducing environmental impact.

TotalEnergies in Brazil: A Legacy of 50 Years

TotalEnergies, a global multi-energy company, has been actively present in Brazil for almost 50 years. With six subsidiaries and over 3,500 employees, the company is deeply involved in various business segments such as Exploration & Production, gas, renewable electricity (solar and wind), lubricants, chemicals, and distribution.

Exploration & Production: Driving Growth

TotalEnergies currently holds 11 licenses in Brazil, with four of them being operated by the company. By 2023, the average daily production of TotalEnergies in the country is expected to reach approximately 140,000 barrels of oil equivalent.

Investing in Renewable Energy

Recognizing the immense potential of the renewable energy segment in Brazil, TotalEnergies has made significant investments in this area. In October 2022, the company joined hands with Casa dos Ventos, the leading renewable energy player in Brazil, to collaboratively develop a renewable energy portfolio with a capacity of 12 GW.

Fuel Distribution: Strengthening Presence

TotalEnergies is not only focused on exploration and production but also actively participates in the Brazilian fuel distribution market. The company operates a network of around 240 filling stations and numerous storage facilities for petroleum products and ethanol.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets a wide range of energies including oil, biofuels, natural gas, green gases, renewables, and electricity. With more than 100,000 dedicated employees, TotalEnergies is committed to making energy more affordable, sustainable, reliable, and accessible to people worldwide. Operating in nearly 130 countries, the company places sustainable development at the core of its projects and operations, striving to contribute to the overall well-being of individuals.

Cautionary Note

TotalEnergies: A Leading Energy Company

The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document refer to TotalEnergies SE and its affiliated entities. We, us, and our may also be used to represent these entities or their employees. Each entity controlled by TotalEnergies SE is a separate legal entity.

Forward-Looking Statements

This document contains forward-looking information and statements based on economic data and assumptions in a specific competitive, regulatory, and economic environment. While utmost care has been taken to ensure accuracy, these statements may prove to be inaccurate in the future due to various risk factors. Neither TotalEnergies SE nor any of its subsidiaries is under any obligation to publicly update the forward-looking information or statements contained herein, including objectives or trends. For a detailed understanding of the risk factors impacting TotalEnergies' financial results or activities, please refer to the most recent Universal Registration Document filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), as well as the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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