05/16/2013 - News
Total Wins 10 Exploration Licenses in Brazil’s 11th Bidding Round
Total has been awarded 10 new exploration licenses in Brazil’s 11th bidding round. The company will be the operator with a 40% interest in five blocks situated in the Foz do Amazonas Basin (FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127) and with a 45% interest in one block (CE-M-661) in the Ceara Basin. In addition, Total has acquired a 25% working interest in three blocks (ES-M-669, ES-M-671 and ES-M-743) in the Espirito Santo Basin, as well as a 50% interest in one block (BAR-M-346) in Barreirinhas basin.
“Thanks to our winning bids for a large number of very promising deep offshore blocks in Brazil in one of the most important licensing rounds in the world, Total has expanded its prospecting and operating acreage in the country, which was one of our main objectives in 2013. We will be able to play a key role in Brazil’s dynamic exploration sector,” commented Marc Blaizot, Senior Vice President, Exploration at Total. “These acquisitions will be major drivers of Total’s strategy of profitable growth in the deep offshore. They also bolster our solid portfolio of prime assets on both sides of the Atlantic, in Africa and the Americas. And we are delighted to be able to put our deep offshore expertise to work for Brazil, alongside Petrobras and our other partners," he added.
Total will be in partnership with Petrobras, BP, Statoil, OGX and Queiroz Galvão.