TotalEnergies Signs PSC for the Agua Marinha Offshore Block in Brazil

TotalEnergies and its co-venturers Petrobras, QatarEnergy and PETRONAS Petróleo Brasil Ltda (PPBL) have signed a Production Sharing Contract (PSC) for the Agua Marinha block, which was awarded in the Open Acreage under Production Sharing Regime – 1st Cycle held by Brazil’s National Petroleum Agency (ANP) in December 2022.

Agua Marinha is a 1,300 sq.km exploration block located in the pre-salt Campos Basin south of the Marlim Sul field and about 140 km from shore. The work program includes drilling one firm exploration well during the exploration period.

“The signature of the PSC for Agua Marinha expands our presence in this promising area of the pre-salt Campos Basin, alongside our three strategic partners, and we are looking forward looking to exploring the block and drilling the Touro prospect” said Kevin McLachlan, Senior Vice President, Exploration of TotalEnergies. “Offshore Brazil, with its material low-cost, low-emission resources is a core area for the Company. This block, along with the two South Santos basin concessions obtained in 2022, further reinforces our exploration portfolio in this high potential area.”

TotalEnergies will participate in the block with a 30% interest, alongside operator Petrobras (30%), QatarEnergy (20%) and PPBL (20%).