Brazil: Total Exits the Foz Do Amazonas Basin
September 28 2020 - 2:26AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that it has
reached an agreement on September 24th, 2020 to transfer to
Petrobras its equity interest in five exploration blocks in the Foz
do Amazonas Basin, located 120 kilometers offshore Brazil. These
blocks are referenced as FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125
and FZA-M-127.
The closing of the transaction is subject to the preemption
rights of partners in the blocks and standard regulatory
approvals.
About Total in Brazil
Total has been present in Brazil for over 40 years and has more
than 3,000 employees in the country. The Group operates in all
segments: exploration and production, gas, renewable energies,
lubricants, chemicals, and distribution.
In 2019, the Group’s production in the country averaged 16,000
barrels of oil per day. In October 2019, a consortium led by Total
was awarded Block C-M-541, located in the Campos Basin, in the 16th
Bidding Round held by Brazil’s National Petroleum Agency (ANP).
In 2017, Total and Petrobras formed a Strategic Alliance
encompassing exploration and production and gas, renewables and
power activities. Through the Alliance, the two groups are
implementing R&D projects on topics such as artificial
intelligence leading to efficiency gains, with direct applications
in Brazil. Total entered the fuel distribution market in Brazil
with the acquisition in December 2018 of Grupo Zema’s distribution
activities. Total thus owns a network of 280 service stations, as
well as several storage facilities for petroleum products and
ethanol.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TOTAL SE directly or indirectly owns investments
are separate legal entities. TOTAL SE has no liability for their
acts or omissions. In this document, the terms “Total”, “Total
Group” and Group are sometimes used for convenience. Likewise, the
words “we”, “us” and “our” may also be used to refer to
subsidiaries in general or to those who work for them. 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 TOTAL 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.
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