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TotalEnergies is exiting the under-development Gato do Mato field by divesting its stake to operator Shell in exchange for an increased ownership in the producing Lapa field, where it is operator.

TotalEnergies increased its stake in the Lapa offshore field in Brazil to 48% after acquiring a 3% stake from Shell, swapping a 20% non-operated interest in the Gato do Mato project.

TotalEnergies EP Brasil is exchanging its 20% non-op interest in the Gato do Mato project with Shell Brasil Petróleo Ltda. for an additional 3% interest in Lapa. Shell made a final investment ...