By Alberto Delclaux 
 

Total SA (FP.FR) said Friday that it has agreed to buy a further 10% stake in Brazil's Lapa field from Petroleo Brasileiro S/A (PETR3.BR) for $50 million.

Following the transaction, Total will hold a 45% stake in the oil field, while Royal Dutch Shell PLC (RDSA.LN) will own 30% and Repsol Sinopec the remaining 25%.

French energy company Total also signed an agreement with Brazilian oil major Petrobras to create a joint venture by July 31, 2019. The JV is aimed at developing onshore solar and wind projects with up to 500 megawatts of capacity over the next five years.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

December 21, 2018 06:02 ET (11:02 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Petroleo Brasileiro ADR (NYSE:PBR)
Gráfica de Acción Histórica
De Feb 2024 a Mar 2024 Haga Click aquí para más Gráficas Petroleo Brasileiro ADR.
Petroleo Brasileiro ADR (NYSE:PBR)
Gráfica de Acción Histórica
De Mar 2023 a Mar 2024 Haga Click aquí para más Gráficas Petroleo Brasileiro ADR.