Total SE announced Monday that it and its partners have decided to launch the third phase of the “giant” Mero project, which is located in the Libra block offshore Brazil.
Under the third phase, the Mero 3 floating production storage and offloading (FPSO) vessel will be developed. This FPSO will have a liquid treatment capacity of 180,000 barrels per day and is expected to start up by 2024, according to Total.
Mero 3 follows investment decisions for the Mero 1 and Mero 2 FPSOs, which both have the same liquid processing capacity as the Mero 3 and are expected to start in 2021 and 2023, respectively.
“The decision to launch Mero 3 marks a new milestone in the large-scale development of the vast oil resources of the Mero field – estimated at three to four billion barrels,” Arnaud Breuillac, the president of exploration and production at Total, said in a statement posted on the company’s website.
“It is in line with Total’s growth strategy in Brazil’s deep-offshore, based on giant projects enabling production at competitive cost, resilient in the face of oil price volatility,” he added in the statement.
“The Mero project will contribute to the group’s production from 2020 onwards, and we are targeting a production of 150,000 barrels per day in Brazil by 2025,” Breuillac went on to say.
The Mero field has been in pre-production since 2017 with the 50,000 barrel per day Pioneiro de Libra FPSO. The Libra consortium is operated by Petrobras (which has a 40 percent stake), with Total holding a 20 percent interest, Shell Brasil holding a 20 percent stake and CNOOC Limited and CNPC each holding a 10 percent interest. Pre-Sal Petróleo (PPSA) manages the Libra Production Sharing Contract.
The investment decisions for Mero 1 and Mero 2 were announced in December 2017 and June 2019, respectively.
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