The offshore block, located about 200km south of Rio de Janeiro, covers an area of 700sqkm in water depth of approximately 2,000mt.

This acquisition is part of Total’s strategy to increase its presence in exploration and production activities in Brazil. This acquisition is subject to approval from the Brazilian authorities.

Marc Blaizot, senior vice president of Geosciences at Total Exploration & Production, said: “This stake in a block close to the very prolific block BM-S-11, where the Tupi, 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.”

Exploration drilling is planned for later this year, subject to approval by the National Agency of Petroleum (ANP) and The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA).