Latest news with #Mero4
Yahoo
27-05-2025
- Business
- Yahoo
TotalEnergies Oil Production Bolstered in Brazil with Mero Field-Strike
TotalEnergies SE (NYSE:TTE) is on the cusp of increasing its oil production by 3% per year between 2024 and 2030. That was evident after the oil major announced its first oil from a fourth development of its Mero field on the Libra block in Brazil on May 27. Mero-4 is the new phase well that connects 12 wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and Offloading) unit. A engineer overseeing a exposed network of pipelines connected to tanks at an oil refinery. With a production capacity of 180,000 barrels of oil per day, the new project is poised to bring Mero's production capacity to 770,000 b/d. It would be a significant addition, considering TotalEnergies average production in 2024 stood at 153,000 barrels a day. The Mero 4 project is also designed to ensure minimal greenhouse gas emissions while delivering oil at the lowest cost. Consequently, the Mero 4 project is expected to generate significant free cash flow to bolster TotalEnergies balance sheet. In addition to bolstering oil production in Brazil, TotalEnergies is also investing in renewable energy as it seeks to diversify its revenue source. In partnership with Casa dos Ventos, the company is in the process of developing a 12GW renewable energy portfolio that includes onshore wind, battery storage, and photovoltaic. TotalEnergies SE is an integrated energy company that produces and markets oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables, and electricity. While we acknowledge the potential of TotalEnergies SE (NYSE:TTE) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: and . Disclosure: None.
Korea Herald
26-05-2025
- Business
- Korea Herald
CNOOC Limited Announces Mero4 Project Commences Production
HONG KONG, May 26, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Mero4 Project has commenced production safely at May 24 Brazil time. Mero field is located in the Santos Basin pre-salt southeastern offshore Brazil, about 180 kilometers away from Rio de Janeiro, in a water depth of between 1,800 and 2,100 meters. Mero4 Project will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 12 development wells are planned to be commissioned, including 5 oil producers, 6 water or gas alternate injectors, 1 convertible well. In order to maximize production, the wells are equipped with intelligent well completion technology, which enables the remotely switching between production and injection wells via platform. The FPSO used in Mero4 is one of the largest FPSOs in the world, which was integrated in China in December 2024 and arrived at the oilfield in March 2025. The FPSO is able to produce up to 180,000 barrels of crude oil, process 12 million cubic meters of natural gas per day and inject 250,000 cubic meters of water, which will increase the installed production capacity of Mero field to 770,000 barrels of crude oil per day. To implement the concept of green and low carbon development, Mero4 project is also equipped with resources to operate the HISEP (High Pressure Separator), which allows underwater separation between the extracted oil and the associated gas and reinject the gas into the reservoir. The HISEP will simultaneously boost production and reduce emission. CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC Limited, holds 9.65% interest. Petrobras is the operator and has 38.6% interest, TotalEnergies holds 19.3% interest, Shell Brasil holds 19.3% interest, CNPC holds 9.65% interest, and Pré-Sal Petróleo S.A –PPSA holds 3.5% as the Federal Union representative in non-contracted areas. — End — Notes to Editors: More information about the Company is available at *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. For further enquiries, please contact: Ms. Cui Liu Media & Public Relations CNOOC Limited Tel: +86-10-8452-6641 Fax: +86-10-8452-1441 E-mail: mr@
Yahoo
26-05-2025
- Business
- Yahoo
CNOOC Limited Announces Mero4 Project Commences Production
HONG KONG, May 26, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Mero4 Project has commenced production safely at May 24 Brazil time. Mero field is located in the Santos Basin pre-salt southeastern offshore Brazil, about 180 kilometers away from Rio de Janeiro, in a water depth of between 1,800 and 2,100 meters. Mero4 Project will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 12 development wells are planned to be commissioned, including 5 oil producers, 6 water or gas alternate injectors, 1 convertible well. In order to maximize production, the wells are equipped with intelligent well completion technology, which enables the remotely switching between production and injection wells via platform. The FPSO used in Mero4 is one of the largest FPSOs in the world, which was integrated in China in December 2024 and arrived at the oilfield in March 2025. The FPSO is able to produce up to 180,000 barrels of crude oil, process 12 million cubic meters of natural gas per day and inject 250,000 cubic meters of water, which will increase the installed production capacity of Mero field to 770,000 barrels of crude oil per day. To implement the concept of green and low carbon development, Mero4 project is also equipped with resources to operate the HISEP (High Pressure Separator), which allows underwater separation between the extracted oil and the associated gas and reinject the gas into the reservoir. The HISEP will simultaneously boost production and reduce emission. CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC Limited, holds 9.65% interest. Petrobras is the operator and has 38.6% interest, TotalEnergies holds 19.3% interest, Shell Brasil holds 19.3% interest, CNPC holds 9.65% interest, and Pré-Sal Petróleo S.A –PPSA holds 3.5% as the Federal Union representative in non-contracted areas. — End — Notes to Editors: More information about the Company is available at *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. *** *** *** *** For further enquiries, please contact: Ms. Cui LiuMedia & Public RelationsCNOOC LimitedTel: +86-10-8452-6641Fax: +86-10-8452-1441E-mail: mr@ Mr. Cheng YaoEver Bloom (HK) Communications Consultants Group LimitedTel：+852 5540 0725Fax：+852 2111 1103Email： View original content to download multimedia: SOURCE CNOOC Limited Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26-05-2025
- Business
- Yahoo
CNOOC Limited Announces Mero4 Project Commences Production
HONG KONG, May 26, 2025 /PRNewswire/ -- CNOOC Limited (the "Company", SEHK: 00883 (HKD Counter) and 80883 (RMB Counter), SSE: 600938) announces that Mero4 Project has commenced production safely at May 24 Brazil time. Mero field is located in the Santos Basin pre-salt southeastern offshore Brazil, about 180 kilometers away from Rio de Janeiro, in a water depth of between 1,800 and 2,100 meters. Mero4 Project will be developed by the traditional deep-water Pre-salt development mode, FPSO+Subsea. 12 development wells are planned to be commissioned, including 5 oil producers, 6 water or gas alternate injectors, 1 convertible well. In order to maximize production, the wells are equipped with intelligent well completion technology, which enables the remotely switching between production and injection wells via platform. The FPSO used in Mero4 is one of the largest FPSOs in the world, which was integrated in China in December 2024 and arrived at the oilfield in March 2025. The FPSO is able to produce up to 180,000 barrels of crude oil, process 12 million cubic meters of natural gas per day and inject 250,000 cubic meters of water, which will increase the installed production capacity of Mero field to 770,000 barrels of crude oil per day. To implement the concept of green and low carbon development, Mero4 project is also equipped with resources to operate the HISEP (High Pressure Separator), which allows underwater separation between the extracted oil and the associated gas and reinject the gas into the reservoir. The HISEP will simultaneously boost production and reduce emission. CNOOC Petroleum Brasil Ltda, a wholly-owned subsidiary of CNOOC Limited, holds 9.65% interest. Petrobras is the operator and has 38.6% interest, TotalEnergies holds 19.3% interest, Shell Brasil holds 19.3% interest, CNPC holds 9.65% interest, and Pré-Sal Petróleo S.A –PPSA holds 3.5% as the Federal Union representative in non-contracted areas. — End — Notes to Editors: More information about the Company is available at *** *** *** *** This press release includes forward looking information, including statements regarding the likely future developments in the business of the Company and its subsidiaries, such as expected future events, business prospects or financial results. The words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such forward-looking statements. These statements are based on assumptions and analyses made by the Company as of this date in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate under the circumstances. However, whether actual results and developments will meet the current expectations and predictions of the Company is uncertain. Actual results, performance and financial condition may differ materially from the Company's expectations, including but not limited to those associated with macro-political and economic factors, fluctuations in crude oil and natural gas prices, the highly competitive nature of the oil and natural gas industry, climate change and environmental policies, the Company's price forecast, mergers, acquisitions and divestments activities, HSSE and insurance policies and changes in anti-corruption, anti-fraud, anti-money laundering and corporate governance laws and regulations. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements. The Company cannot assure that the results or developments anticipated will be realised or, even if substantially realised, that they will have the expected effect on the Company, its business or operations. *** *** *** *** For further enquiries, please contact: Ms. Cui LiuMedia & Public RelationsCNOOC LimitedTel: +86-10-8452-6641Fax: +86-10-8452-1441E-mail: mr@ Mr. Cheng YaoEver Bloom (HK) Communications Consultants Group LimitedTel：+852 5540 0725Fax：+852 2111 1103Email： View original content to download multimedia: SOURCE CNOOC Limited
Yahoo
26-05-2025
- Business
- Yahoo
Brazil: First oil of Mero-4
PARIS, May 26, 2025--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces first oil from the fourth development phase of the Mero field on the Libra block, located 180 kilometers off the coast of Rio de Janeiro, Brazil, in the pre-salt area of the Santos Basin. Launched in August 2021, this new phase called "Mero-4" will connect 12 wells to the new Alexandre de Gusmão FPSO (Floating Production, Storage and Offloading) unit, with a production capacity of 180,000 barrels of oil per day (b/d). This project has been designed to minimize greenhouse gas emissions, with reinjection of the associated gas into the reservoir and zero routine flaring. This startup brings Mero's total production capacity to 770,000 b/d through five FPSOs. This will represent around 100,000 boe/d in TotalEnergies share at full capacity. "The start-up of Mero-4 marks the end of the development of this world-class field -with the commissioning of four FPSOs in three years- and the start of a long-term production phase generating robust free cash flow. This is a great achievement for the Libra consortium and a major milestone for TotalEnergies in Brazil, a key growth country for our Company," said Nicolas Terraz, President Exploration & Production of TotalEnergies. "With its vast resources and high productivity, the Mero field delivers low cost and low emission oil production in line with our Company strategy and contributes significantly to the achievement of our objective to grow our production by 3% per year between 2024 and 2030." Mero is a unitized field, operated by Petrobras (38.6%), in partnership with TotalEnergies (19.3%), Shell Brasil (19.3%), CNPC (9.65%), CNOOC (9.65%) and Pré-Sal Petróleo S.A (PPSA) (3.5%) representing the Government in the non-contracted area. *** About TotalEnergies in Brazil TotalEnergies has been operating in Brazil for 50 years and employs close to 4,000 people in the country. Its presence encompasses Exploration & Production, gas, renewable electricity (solar and wind), lubricants and chemicals. TotalEnergies' Exploration & Production portfolio in the country currently includes 11 licenses, of which four are operated. In 2024, the Company's average production in the country was 153,000 barrels of oil equivalent per day. TotalEnergies is investing in the growth of the renewable energy segment in Brazil: in October 2022, it entered a partnership with Casa dos Ventos, Brazil's leading renewable energy player, to jointly develop a 12 GW renewable energy portfolio, including onshore wind, photovoltaic and battery storage. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. X @TotalEnergies LinkedIn TotalEnergies Facebook TotalEnergies Instagram TotalEnergies Cautionary Note The terms "TotalEnergies", "TotalEnergies company" or "Company" in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words "we", "us" and "our" may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). View source version on Contacts TotalEnergies Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Investor Relations: +33 (0)1 47 44 46 46 l ir@ Sign in to access your portfolio
