Total S.A. Brazil: Total Announces First Oil from Iara
15 Noviembre 2019 - 1:20AM
UK Regulatory
TIDMTTA
Total (Paris:FP) (LSE:TTA) (NYSE:TOT)
Total announce first oil from the Iara license (Block BM-S-11A),
located in the deepwater Santos Basin pre-salt. This marks the
start-up of the FPSO P-68, the first of the two floating
production, storage and offloading units (FPSO) already launched
and to be installed on the license. The second, the P-70, is
expected to come on stream in 2020. Each unit has a capacity of
150,000 barrels of oil per day.
"First oil from Iara is a new milestone for Total in Brazil. It
increases our share of production from the highly prolific pre-salt
area, adding to current output from the Total-operated Lapa field,
and the extended well tests under way on the Mero field," said
Arnaud Breuillac, President Exploration & Production at
Total.
The Iara license comprises the Sururu, Berbigão and Oeste de
Atapu fields.
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 23 blocks, with nine operated. In 2018, the Group's
production in the country averaged 19,000 barrels of oil per day.
By 2025, Total's production should exceed 100,000 barrels of oil
per day. On June 2019, Total and its partners made the investment
decision for the second phase of the Mero project. The Mero 2 FPSO
will have a liquids treatment capacity of 180,000 barrels per day
and is expected to start up by 2022. The Mero 1 project, currently
under development, is progressing as per plan, with start-up
scheduled in 2021. 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 major energy player 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 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.
Total Contacts
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
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(END) Dow Jones Newswires
November 15, 2019 02:20 ET (07:20 GMT)
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