September 29, 2020 |
Brazil's Petrobras said Monday that it agreed to acquire the holdings of French oil company Total in five deep-water blocks around 120km from the coast of the northern state of Amapá.
Total held 40% of the consortium that won the exploration and production (E&P) concessions in 2013, while Petrobras and BP each owned 30%. The French company notified Petrobras and BP of its intention to leave the consortium in August, according to a press release from the company in early September.
Brazilian state-owned company acquires the French oil major's stake in five deep-water concessions off the coast of Amapá