Agreement with Shell increases TotalEnergies interest in Lapa, offshore Brazil

TotalEnergies signed an agreement with Shell to exchange its 20% non-operated interest in the Gato do Mato project for an additional 3% interest in Lapa, a producing offshore oilfield. TotalEnergies will thus increase its stake in Lapa to 48% as the operator, alongside Shell (27%) and Repsol Sinopec (25%).

Lapa is a deep-offshore field in the Santos Basin 270 km off the coast of Brazil. The Lapa South-West tieback development, approved in 2023, will increase production by 25,000 barrels per day (bpd) upon start-up by year-end, bringing total field output to 60,000 bpd.