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Total Expands Pre-Salt Footprint in Brazil with New Deep Offshore Exploration License

Gasoil News - Published on Tue, 15 Oct 2019

Image Source: total.com
Total, operator, and its co-venturers Qatar Petroleum and Petronas have won the C-M-541 deep offshore block today in the 16th Bidding Round held by Brazil’s National Petroleum Agency (ANP). The acreage is located in the pre-salt Campos Basin in a water depth of about 3,000 meters. Total will operate the block with a 40% interest, alongside Qatar Petroleum (40%) and Petronas (20%). The consortium plans to drill a first exploration well in 2021.

This entry into a new block follows the FID made by Total and its partners in June 2019 for the second FPSO of the Mero project (Libra Block), which is expected to start up in 2022. Currently under construction, the first FPSO of the Mero project is progressing according to schedule, with start-up planned in 2021. The first FPSO of the Iara project is expected to start up later this year and the second one in 2020.

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Posted By : Rabi Wangkhem on Tue, 15 Oct 2019
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