Total relinquishes operatorship of five blocks off Brazil

Total relinquishes operatorship of five blocks off Brazil

September 28, 2020 qnbblzgg 0

first_imgFoz do Amazonas blocks map; Source: Total Total said on Monday that the blocks in question were the FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125, and FZA-M-127 blocks. According tothe company, it notified its partners that it was resigning the operator role onAugust 19. The five blocks are located some 120 kilometres offshore. Through the alliance,the two groups are implementing R&D projects on topics such as artificialintelligence leading to efficiency gains, with direct applications in Brazil. 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). Total informedthe National Agency of Petroleum, Natural Gas, and Biofuels (ANP) of thisdecision, that opens a period of six months during which a new operator will beappointed and to whom the operated activities will be handed over. In 2017, Total and Petrobras formed a strategic alliance encompassing exploration and production and gas, renewables and power activities.center_img Total exploration& production portfolio currently includes 24 blocks, with 10 operated. In2019, the group’s production in the country averaged 16,000 barrels of oil perday. It is worthnoting that Total has been present in Brazil for over 40 years and has morethan 3,000 employees in the country. The company operates in all segments –exploration and production, gas, renewable energies, lubricants, chemicals, anddistribution. During thisperiod, Total must continue monitoring all regulatory processes on behalf ofits partners Petrobras and BP. French oil major Total has opted to resign from its role of operator for five exploration blocks, located in the Foz do Amazonas Basin offshore Brazil. The company entered the fuel distribution market in Brazil with the acquisition in December 2018 of Grupo Zema’s distribution activities. It owns a network of 280 service stations, as well as several storage facilities for petroleum products and ethanol.last_img

 

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