Following an agreement with Total E&P to take over operations in ultra-deep waters in northern Brazil, Petrobras announces the leverage of exploratory investments in Amapá.
In 2018, Brazilian environmental agency IBAMA rejected Total's application for an environmental license to drill north in the basin, 120 kilometers (74,56 miles) off the coast of Brazil, for the fourth time with Petrobras. Geologists said the area could hold up to 14 billion barrels of oil, more than all proven reserves in the Gulf of Mexico.
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Oil Exploration at Foz do Amazonas
Environmentalists tried to stop oil exploration in the mouth of amazon after a huge coral reef was discovered nearby. Total, which has invested and led a group including Britain's BPC and Petrobras in buying exploration blocks north of the area, said in early September that it would step down as operator of the project.
Environmentalist organization Greenpeace said on Monday that the Amazon River reef would definitely be spared if BP and Petrobras also pulled out of the project.
About Grupo Total in Brazil and its investments with Petrobras
The Total group began its presence in Brazil more than 40 years ago, in 1975. They currently operate through six affiliates in the country in the Exploration and Production, Marketing and Services, Refining and Chemicals and Gas, Renewables and Energy segments.
The Group has around 3.000 professionals committed to the best energy in Brazil. Total is present in Brazil through six branches. Total E&P do Brasil operates in the Exploration and Production sector, and has a broad and diversified portfolio, consisting of 21 offshore blocks, with a focus on deep offshore.
The company's main investments in the country are the Lapa field, where Total became the first international company to operate a producing field in the Santos Basin, the pre-salt, the Libra field and the Iara block, all located in the Santos Basin pre-salt, and the CM-541 block, in the Campos Basin, acquired by Total in 2019. It?s one of the best investments ever made.
