Petrobras and Total signs definitive contracts in the Upstream and Downstream sectors
- Petrobras will transfer 22.5% of rights to Total in the concession area named Iara (comprising the Sururu, Berbigão and Oeste de Atapu fields which are under unitization with the Entorno de Iara, a transfer of rights area in which Petrobras holds 100% interest) in the Block BM-S-11. Petrobras will continue to be operator with a majority interest of 42.5%. The partnership with Total will allow Petrobras to reduce its investment and benefit from technological solutions that will be jointly studied between Petrobras and total, maximizing profitability and the volume of oil to be recovered. BG E&P Brasil, a Royal Dutch Shell subsidiary, with 25% and Petrogal Brasil, with 10%, also take part in the consortium.
- Petrobras will transfer 35% of rights to Total, in the Lapa field concession area, in Block BM-S-9 and will also transfer the operatorship to Total whereas Petrobras will remain in the license with 10%. The Lapa field has been put in production in december 2016. Total, as new operator of this field, will bring to the Consortium its valuable experience in deep-offshore projects to manage the next phases of the challenging development of the Lapa field as it presents distinct characteristics from other pre-salt fields.The other partners are BG E&P Brasil, a Royal Dutch Shell subsidiary, with 30% and Repsol-Sinopec Brasil , with 25%.
- Petrobras will transfer 50% interest to Total in Termobahia composed of 2 cogeneration plants, Rômulo de Almeida and Celso Furtado, located in Bahia area. The two plants are connected to the regasification terminal located in São Francisco do Conde, also in Bahia where Total will take regasification capacity to supply gas to the power plants. This integrated G&P joint venture will represent an innovative partnership in the Brazilian G&P market.