Total: Brazil: Production Ramp-Up on Iara with the Start-Up of the Second FPSO
26 Juin 2020 - 10:15AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and its partners announce
the start-up of the Floating Production Storage and Offloading
(FPSO) P-70 of the Iara cluster (Block BM-S-11A), located in the
deepwater Santos Basin pre-salt offshore Brazil. With a productive
capacity of 150,000 barrels of oil per day, this new unit double
the overall production capacity of the Iara cluster -- initiated in
November 2019 on the Berbigão field with the FPSO P-68 -- and will
produce the reserve of the Atapu field.
"The ramp-up of Iara's production reflects Total's growth
strategy in the Brazilian deep offshore, where the Group focuses on
giant projects that produce barrels of oil at competitive cost,
resilient in the face of oil price volatility," said Arnaud
Breuillac, President Exploration & Production at Total. "The
Group production in the country should reach 150,000 barrels of oil
per day by 2025 thanks to ongoing developments on the Iara, Mero
and Lapa projects."
The BM-S-11A license comprises parts of the fields of Sururu,
Berbigão and Atapu. Total acquired a working interest of 22.5% in
Block BM-S-11A on January 12, 2018 as part of the strategic
alliance with Petrobras, becoming a partner alongside operator
Petrobras (42.5%), Shell Brasil Petróleo Ltda. (25%) and Petrogal
Brasil S.A. (10%).
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.
Total Exploration & Production's portfolio 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 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 Group, which 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 S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms "Total" and "Total Group"
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. 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 S.A. 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200626005094/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: TOTAL
Copyright Business Wire 2020
(END) Dow Jones Newswires
June 26, 2020 04:00 ET (08:00 GMT)
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