Total: transfers stake in Brazil to Petrobras

(CercleFinance.com) - Total has announced that, on 24 September, it has reached an agreement with Petrobras to transfer its stake in five exploration blocks located in the Foz do Amazonas Basin, 120 kilometres offshore Brazil.


The closing of the transaction is subject to the pre-emption rights of the partners in the blocks, along with standard regulatory approvals.

Total operates in all business segments in Brazil: 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.


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