Total Acquires a 20% Interest in Block BM-S-54

Source: www.gulfoilandgas.com 6/30/2010, Location: South America

Total announces the acquisition of a 20% interest from Shell in the BM-S-54 license in the Santos Basin. Shell holds the remaining 80% and keeps the operatorship. This acquisition is subject to approval from the Brazilian authorities.

The offshore block, located about 200 kilometres south of Rio de Janeiro, covers an area of 700 square kilometres in water depth of approximately 2,000 metres.

This acquisition is part of Total’s strategy to increase its presence in exploration and production activities in Brazil. “This stake in a block close to the very prolific block BM-S-11, where the Tupi, Iara and Iracema oil fields were discovered, will enable Total to participate in the promising exploration of the pre-salt area of the Santos Basin” stated Marc Blaizot, Senior vice President, Geosciences at Total Exploration & Production.

Exploration drilling is planned for later this year, subject to approval by the National Agency of Petroleum (ANP) and The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA).


Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...
Tanzania >>  6/29/2022 - Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is please...

Brazil >>  6/27/2022 - Petrobras, following the announcements released on 02/08/2021, 08/25/2021 and 10/01/2021, informs that it restarted the sale processes of the Abreu e ...
South Africa >>  6/27/2022 - In accordance with a farmout agreement (the "Agreement"), Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with a focus on the offsh...

United States >>  6/27/2022 - Sitio Royalties Corp. (STR) ("Sitio") announced that it has completed the acquisition of over 19,700 net royalty acres ("NRAs") in the Permian Basin f...
Brazil >>  6/24/2022 - Petrobras, following up on the release disclosed on 06/23/2022, informs that it signed with BW Energy Maromba do Brasil Ltda (BWE), the contracts for ...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.