France’s TotalEnergies and its partners have made an oil discovery in the Sépia Co-participated Area off the coast of Rio de Janeiro, Brazil, following the drilling of the Pedunculo well.

The well, which is located in the north-west of the Sépia oil field, has been drilled at a water depth of approximately 2,200m.

The well encountered an oil column that is considered to be one of the thickest ever recorded in the country, the French energy major claims.

The consortium plans to continue operations at the well to characterise the reservoirs’ conditions and measure the extent of the oil find.

Brazil’s Petrobras-operated Sépia Coparticipated Area covers the Sépia Transfer of Rights (ToR) contract and the Sepia ToR Surplus Production Sharing Contract.

Petrobras owns a 51.9% stake in the Sépia Area while its partners TotalEnergies, QatarEnergy, and Petronas hold  19.2%, 14.4%, and 14.4% stakes, respectively.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

The Sépia shared reservoir currently has a production capacity of approximately 170,000 barrels of oil per day.

TotalEnergies Americas Exploration and Production senior vice-president David Mendelson said: “This is excellent news, just a few months after concluding our entry into the world-class Sépia field in Brazil, where we are already benefitting from the production performance from the first FPSO.

“The resources confirmed by the Pedunculo well appear to exceed pre-drill expectations and add to the potential for future development of the area. Thanks to their exceptional productivity and the innovative technologies used in their developments, these resources fully fit in TotalEnergies’ low-cost, low-emission oil portfolio.”

Last month, TotalEnergies announced that its profits had increased by 43%.