Brazil: Total Exits the Foz Do Amazonas Basin
September 28 2020 - 2:56AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that it has
reached an agreement on September 24(th) , 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200927005087/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2020
(END) Dow Jones Newswires
September 28, 2020 02:41 ET (06:41 GMT)
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