TotalEnergies Launches 25,000 bpd Lapa Output, Caps French Fuel Prices, Restarts Libya Field
TotalEnergies began production at the Lapa South-West project in the Santos Basin, boosting output by 25,000 barrels per day. It also capped French fuel prices at €1.99/liter for petrol and €2.09/liter for diesel this month and resumed 25,000 barrels-per-day output at Libya’s Mabruk field.
1. Lapa South-West Project Production
The Lapa South-West expansion, sanctioned in 2023, involves three new wells tied into the existing FPSO at the deep-water Lapa field, located nearly 300km offshore Brazil in the Santos Basin. Operated by TotalEnergies (48%) alongside Shell (27%) and Repsol Sinopec (25%), it adds 25,000 barrels per day to the field’s output.
2. French Fuel Price Caps
To shield consumers from market volatility, TotalEnergies imposed temporary price caps in France through March, setting petrol at €1.99 per liter and diesel at €2.09 per liter. The move coincided with a 1.18% drop in premarket trading of the company’s shares.
3. Libya Mabruk Field Restart
TotalEnergies restarted production at the non-operated Mabruk oil field in Libya, restoring 25,000 barrels per day of capacity. This restart complements the company’s broader strategy to expand non-operated assets and diversify its production base.