Petrobras takes over part of Total in Foz do Amazonas

On Monday (28), the French oil company Total announced that it has closed an agreement that transfers to Petrobras its participation in five exploratory blocks in Foz do Amazonas. The assets of the blocks were auctioned off in 2013, in a consortium led by Total with a stake in British Petroleum (BP), but the companies were unable to advance the exploration for environmental reasons. Petrobras said that the implementation of the negotiation is subject to approval by regulatory agencies.

The basin is 120 kilometers from the amapá coast, in ultra-deep waters. Geologists claim that the area can contain up to 14 billion barrels of oil.

Environmentalists have been trying to prevent oil exploration in the area due to a huge coral reef found in the region. In 2018, Ibama rejected for the fourth time Total's request for an environmental license to drill the blocks. Green Peace, a non-governmental environmental organization, said on Monday that amazon river reefs would be permanently spared if BP and Petrobras also gave up the project, as Total said earlier this month that it would give up its role as operator in the project.

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