Total acquires Santos basin interest from Shell

Total says it has acquired from Shell a 20% interest in Brazil’s BM-S-54 license in Santos basin.

Offshore staff

PARIS – Total says it has acquired from Shell a 20% interest in Brazil’s BM-S-54 license in Santos basin. Shell remains the operator and has the remaining 80% interest.

BM-S-54 is 200 km (124 mi) south of Rio de Janeiro in 2,000 m (6,562 ft) water depth and covers 700 sq km (270 sq mi).

If the acquisition is approved by Brazilian authorities and if approval is granted, Total says exploration drilling will take place later this year.

“This stake in a block close to the very prolific block BM-S-11 where Tui, Iara, and Iracema oil fields were discovered will enable Total to participate in the promising exploration of the pre-salt area of the Santos basin,” says marc Blaizot, senior VP, Geosciences, Total Exploration & Production.


06/30/2010

More in Company News