Total has resigned from the role of the operator for five exploration blocks including FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125, and FZA-M-127
French oil major Total has announced its decision to quit from its role of operator for five exploration blocks located in the Foz do Amazonas Basin, 120km offshore Brazil.
The move, which has been notified by Total to its partners on 19 August 2020, will allow Total to resign from the role of the operator for five exploration blocks including FZA-M-57, FZA-M-86, FZA-M-88, FZA-M-125, and FZA-M-127.
Additionally, the French firm informed the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) of its decision, which opens a period of six months for the appointment of a new operator.
Total to continue monitoring all regulatory processes for six months
Total, on behalf of its partners BP and Petrobras, is required to continue monitoring all regulatory processes during the six-month period.
In Brazil, Total has been operating for more than 40 years, with over 3,000 employees in the country.
The firm operates in segments such as exploration and production (E&P), gas, lubricants, renewable energies, chemicals, and distribution.
Last month, Total and its partners have announced the final investment decision (FID) for the third phase of the Mero project offshore Rio de Janeiro in the Libra block, Brazil.
Situated approximately 180km offshore Rio de Janeiro in the prolific pre-salt area of the Santos Basin, the Mero ultra-deepwater oilfield is under a production sharing agreement to a consortium involving Brazilian state-owned oil company Petrobras with 40% stake.
Other consortium partners include Shell with 20% interest, Total with 20% stake, CNODC with 10% stake and China National Offshore Oil Corporation (CNOOC) with 10% interest.