Petrobras closes strategic alliance agreement with Total Oil

The Brazilian state oil company Petrobras said on Wednesday, March 1, which ended with the French oil company Total purchase and sale agreements related to the assets of Strategic Alliance defined in the Collaboration General Agreement (Master Agreement), signed on 21 December 2016.

With the transaction, Total will hold 35% of Petrobras' rights as well as the operation in the concession area of ​​Lapa field, in Block BM-S-9, leaving the state with 10%, BG E & P Brazil – Company subsidiary of Royal Dutch Shell plc, with 30% and RepsolSinopec Brazil, with 25% also members of this consortium.

Another part of the agreement provides for the sale of 50% of Petrobras' stake to Total in Termobahia, including thermal Romulo de Almeida and Celso Furtado, located in Bahia. Both thermals are connected to the terminal regasification, located in San Francisco do Conde.

The agreement grants the Brazilian state-owned options to acquire 20% stake in block 2, the Lost Foldbelt area in the Gulf of Mexico Mexican industry and letter of intent for exploration joint studies in exploration areas in Equatorial Margin, and Basin Santos.

According to Petrobras, the transaction will yield a total value of US $ 2.225 billion, consisting of US $ 1.675 billion for the assets and services, a line of credit that can be triggered by the state in the amount of $ 400 million, part of Petrobras investments in the fields of Iara area, as well as contingent payments of uS $ 150 million.

The partnership with Total, according to the Brazilian oil company, allows companies to combine their experiences in all segments of the areas of oil and natural gas in Brazil and abroad, maximizing profitability and incorporating technological solutions companies. In addition, the French giant can offer benefits in deepwater projects in the Lapa projects, which have distinct characteristics of the pre-salt.

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