REG-TOTAL Brazil: Total Exits the Foz Do Amazonas Basin

TotalEnergies SEAnnouncement

28/09/2020 07:30

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Brazil: Total Exits the Foz Do Amazonas Basin

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) announces that it has reached an
agreement on September 24(th), 2020 to transfer to Petrobras its equity
interest in five exploration blocks in the Foz do Amazonas Basin, located 120
kilometers offshore Brazil. These blocks are referenced as FZA-M-57, FZA-M-86,
FZA-M-88, FZA-M-125 and FZA-M-127.

The closing of the transaction is subject to the preemption rights of partners
in the blocks and standard regulatory approvals.

About Total in Brazil

Total has been present in Brazil for over 40 years and has more than 3,000
employees in the country. The Group operates in all segments: 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. 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).

In 2017, Total and Petrobras formed a Strategic Alliance encompassing
exploration and production and gas, renewables and power activities. Through
the Alliance, the two groups are implementing R&D projects on topics such
as artificial intelligence leading to efficiency gains, with direct
applications in Brazil. Total entered the fuel distribution market in Brazil
with the acquisition in December 2018 of Grupo Zema’s distribution
activities. Total thus owns a network of 280 service stations, as well as
several storage facilities for petroleum products and ethanol.

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and low-carbon electricity. Our 100,000 employees are committed to better
energy that is safer, more affordable, cleaner and accessible to as many
people as possible. Active in more than 130 countries, our ambition is to
become the responsible energy major.

* * * * *

Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TOTAL SE directly or
indirectly owns investments are separate legal entities. TOTAL SE has no
liability for their acts or omissions. In this document, the terms
“Total”, “Total Group” and Group are sometimes used for convenience.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them.

This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TOTAL SE nor any
of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise.

Total 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)

 



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