French oil major TotalEnergies has approved the final investment decision for the Lapa South-West oil development located in the Santos Basin, 300 kilometers offshore Brazil.
The company operates the project with a 45% interest. Its partners are Shell (30%) and Repsol Sinopec (25%).
TotalEnergies said that the Lapa South-West will be developed through three wells, connected to the existing Lapa FPSO located 12 km away and currently producing from the north-east part of the Lapa field since 2016.
At production start-up, expected in 2025, Lapa South-West will increase production from the Lapa field by 25,000 barrels of oil per day, bringing the overall production to 60,000 barrels of oil per day.
TotalEnergies said that the development represented an investment of around $1 billion.