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Entertainment Oil: Total draws a line over controversial exploration blocks in Brazil

11:30  28 september  2020
11:30  28 september  2020 Source:   pressfrom.com

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Total has decided to resign its operatorship of five exploration blocks , in the environmentally sensitive the Foz do Amazonas Basin, 120 km offshore Brazil , the Total first started licensing the exploration drilling project in 2014. The move also comes amid rising public sensitivity over new oil exploration .

Brazil ’s largest-ever auction of oil deposits flopped, sending the real tumbling, after state-controlled Petroleo Brasileiro SA did most of the bidding while other major oil companies stayed away. The blocks on offer at Wednesday’s auction lie in the so-called pre-salt region off the coast of Brazil .

Pétrole : Total tire un trait sur des blocs d’exploration controversés au Brésil © Pixabay Oil: Total draws a line over controversial exploration blocks in Brazil Total transfers its stake in an exploration project to Petrobras to Brazil, located in the mouth of the Amazon and contested for several years by environmental organizations.

Total leaves the Foz do Amazonas basin in Brazil . The French oil and renewable energy giant signed an agreement with Petrobras on September 24 to transfer its stake in five exploration blocks located in the Foz do Amazonas basin, 120 kilometers off the coast of Brazil. The French group clarified that the closing of the transaction is subject to the pre-emption rights of the partners in the blocks and to standard regulatory approvals. These blocks are referenced FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125 and FZA-M-127.

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The pre-salt oil region located off the coast of Brazil is said to contain an abundance of untapped Brazilian petroleum giant Petrobras first discovered pre-salt oil reserves in the Lula oil field in the The government still exerts some influence over production operations through the PPSA, as the

BP and partners Total , Petrobras and Petrogal were yesterday named winning bidders for eight deepwater blocks offshore Brazil in the Brazilian National Petroleum Agency’s (ANP’s) 11th bid round. BP will be operator in two of the blocks .

At the beginning of September , Total had already announced that it was ending its role of "operator" in the five exploration sectors in question, a project in which it had been associated since 2013 with the British BP and the Brazilian Petrobras. In December 2018, Total was refused by Brazil the environmental license to drill in these exploration blocks, due to "significant uncertainties" during emergency situations, the local press having at the time in particular mentioned "the possibility of an oil leak which could affect the coral reefs present in the region and by extension the marine biodiversity.

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The refusal of this permit had requested by the Brazilian public prosecutor's office and by environmental organizations. According to the NGO Greenpeace, which issued a press release in early September, Total had recently "relaunched the process of acquiring environmental licenses to drill near the Reef of the Amazon, a unique and vulnerable ecosystem, still unknown. "The environmental association claimed that the oil group" was betting on Jair Bolsonaro, far-right president, climate skeptic notoi re, to relaunch its drilling projects off Brazil ".

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