Total and Petrobras are pleased to announce that they have achieved significant progress in the scope of their Strategic Alliance, signed in March 2017:
The first concrete results of jointly implemented R&D projects. Examples of such work include in particular:
The transfer of rights of the remaining 10% from Petrobras to Total in the Lapa field for a consideration of US$50 million.
Following this transaction, which remains subject to approval by the relevant Brazilian authorities, Total, operator of the field located in the pre-salt Santos Basin, will hold a 45% working interest alongside Shell (30%) and Repsol-Sinopec (25%).
The signing of a binding Master Agreement between Total Eren and Petrobras for the creation of a Joint Venture by July 31, 2019 to develop onshore projects in the solar and wind segments in Brazil.
The Joint Venture will look to build up to 500 MW of installed capacity over the next five years.
Date: Dec 26, 2018