Production Ramp-Up on Iara With the Start-Up of the Second FPSO

Total and its partners announce the start-up of the Floating Production Storage and Offloading (FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the deepwater Santos Basin pre-salt offshore Brazil. With a productive capacity of 150,000 barrels of oil per day, this new unit double the overall production capacity of the Iara cluster – initiated in November 2019 on the Berbigão field with the FPSO P-68 – and will produce the reserve of the Atapu field.

“The ramp-up of Iara's production reflects Total's growth strategy in the Brazilian deep offshore, where the Group focuses on giant projects that produce barrels of oil at competitive cost, resilient in the face of oil price volatility,” said Arnaud Breuillac, President Exploration & Production at Total. “The Group production in the country should reach 150,000 barrels of oil per day by 2025 thanks to ongoing developments on the Iara, Mero and Lapa projects.”

The BM-S-11A license comprises parts of the fields of Sururu, Berbigão and Atapu. Total acquired a working interest of 22.5% in Block BM-S-11A on January 12, 2018 as part of the strategic alliance with Petrobras, becoming a partner alongside operator Petrobras (42.5%), Shell Brasil Petróleo Ltda. (25%) and Petrogal Brasil S.A. (10%).

Source: Total
Date: Jun 26, 2020