Global Finance News
12 Mar 2026, 18:20
Repsol announced the start of oil production at the Lapa Southwest development in Brazil’s Santos Basin, approximately 300 km offshore. The project is operated by TotalEnergies in partnership with Shell and Repsol through the Repsol Sinopec Brazil joint venture.
The new development is expected to add about 25,000 gross barrels of oil per day at plateau, increasing total production from the Lapa field to roughly 60,000 barrels per day. Repsol Sinopec Brazil holds a 25% working interest in the project, while TotalEnergies owns 48% and Shell 27%.
Lapa Southwest was developed by connecting three subsea wells to the existing Lapa floating production, storage and offloading (FPSO) unit, allowing additional reserves to be produced using available processing capacity.
Repsol said the project supports its strategy of focusing exploration and production activities in core growth regions such as Brazil. Together with other projects including Cypre, Mento, Leon-Castile and Pikka, the company expects these developments to contribute around 80,000 low-cost, low-carbon-intensity barrels of production by 2027.
The new development is expected to add about 25,000 gross barrels of oil per day at plateau, increasing total production from the Lapa field to roughly 60,000 barrels per day. Repsol Sinopec Brazil holds a 25% working interest in the project, while TotalEnergies owns 48% and Shell 27%.
Lapa Southwest was developed by connecting three subsea wells to the existing Lapa floating production, storage and offloading (FPSO) unit, allowing additional reserves to be produced using available processing capacity.
Repsol said the project supports its strategy of focusing exploration and production activities in core growth regions such as Brazil. Together with other projects including Cypre, Mento, Leon-Castile and Pikka, the company expects these developments to contribute around 80,000 low-cost, low-carbon-intensity barrels of production by 2027.