Repsol, the leading Spanish energy company, has officially commenced oil production from the Lapa Southwest project located in Brazil’s Santos Basin. The project is developed through a joint consortium consisting of Repsol Sinopec Brazil, TotalEnergies, and Shell. Situated approximately 300 kilometers off the Brazilian coast, the Lapa Southwest development marks a new production growth milestone for Brazil’s deepwater pre-salt oilfields.
At its stable production stage, the Lapa Southwest project can deliver an incremental oil output of 25,000 barrels per day. The new production boost lifts the total daily output of the entire Lapa oilfield to around 60,000 barrels, significantly enhancing the field’s overall energy production capacity.
The Lapa Southwest project features a clear and diversified equity structure among top global energy operators. Repsol Sinopec Brazil holds a 25% working interest in the development. TotalEnergies acts as the official operator with a 48% stake, while Shell retains a 27% working interest. The collaboration leverages the technical expertise and capital advantages of three major international energy enterprises to ensure efficient and safe deepwater field development.
The Lapa Southwest project adopts a cost-effective subsea tie-back development solution. Three new production wells are tied back to the existing Lapa Floating Production Storage and Offloading (FPSO) facility. By fully utilizing existing offshore infrastructure and production capacity, the development efficiently unlocks new hydrocarbon reserves, reduces capital investment, shortens construction cycles, and maximizes the economic benefits of the mature Lapa offshore asset.
Established in 2010, Repsol Sinopec Brazil is a strategic offshore energy joint venture between Repsol and Sinopec. Repsol holds a 60% controlling stake, while China Petrochemical Corporation (Sinopec) holds a 40% equity share.
To date, Repsol Sinopec Brazil has grown into one of the largest oil and gas exploration and production companies in Brazil. The company owns a high-quality asset portfolio focused on Brazil’s prolific pre-salt offshore resources. Its operational asset portfolio includes producing oilfields such as Albacora Leste, Lapa, and Sapinhoá, as well as the high-growth Raia project.
As one of the first private enterprises to participate in Brazil’s open pre-salt exploration market, the joint venture has also become one of the most active investors in Brazil’s pre-salt energy sector over the past decade.
Beyond the newly launched Lapa Southwest project, the Raia project (BM-C-33) in Brazil’s Campos Basin represents another core growth driver for Repsol Sinopec Brazil. Developed in partnership with Equinor and Petrobras, the Raia project involves a total investment of approximately $9 billion.
Scheduled to come online in 2028, the large-scale Campos Basin development is expected to emerge as one of Brazil’s most critical natural gas supply sources, playing a vital role in Brazil’s domestic energy supply and regional energy security in the future.
