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French Oil Company Total Will Have About 6 Months to Transfer Offshore Operations of Foz do Amazonas to Another Operator
Total announced on Monday (07) that the blocks in question were the offshore blocks FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125, and FZA-M-127. According to the company, it informed its partners that it would relinquish the operation of these assets on August 19. The five blocks are located about 120 kilometers off the coast.
Total informed the National Agency of Petroleum, Natural Gas and Biofuels (ANP) about the decision, which opens a six-month deadline during which a new operator will be appointed and to whom the explored activities will be handed over.
During this period, Total must continue to monitor all regulatory processes on behalf of its partners Petrobras and BP. Learn more about Foz do Amazonas in a PDF document provided by the Federal Government here.
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It is important to highlight that Total has been present in Brazil for over 40 years and employs more than 3,000 staff in the country. The company operates in all segments – exploration and production, gas, renewable energy, lubricants, chemicals, and distribution.
The total portfolio of exploration and production currently includes 24 blocks, with 10 operated. 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 won Block CM-541, located in the Campos Basin, during the 16th Bidding Round of the National Petroleum Agency (ANP).
In 2017, Total and Petrobras formed a strategic alliance that encompasses exploration and production and gas, renewable energy, and power activities.
Through the alliance, the two groups are implementing R&D projects on topics such as artificial intelligence for efficiency gains, with direct applications in Brazil.
The company entered the fuel distribution market in Brazil by acquiring, in December 2018, the distribution activities of the Zema Group. It has a network of 280 service stations, in addition to several depots for petroleum products and ethanol.
