Total Becomes Operator of Xerelete Oil Field Offshore Brazil
- Business & Finance
Total announces that it has become operator of the offshore Xerelete concession located in a promising area of Brazil’s Campos basin.
The transfer of operatorship from Petrobras to Total follows a unanimous decision by the Xerelete partners and approval by the Brazilian authorities. Total and Petrobras each hold a 41.2% interest in the concession, while BP holds the remaining 17.6 %.
“Total is looking forward to bringing its worldwide expertise in ultra-deep offshore operations to Brazil,” said Ladislas Paszkiewicz, Senior Vice President for Exploration & Production Americas. “Our decision to assume operatorship of Xerelete is part of the Group’s strategy to strengthen its exploration and production activities in Brazil. It demonstrates our willingness to expand our presence in the country.”
The Xerelete field, located around 250 kilometers off the coast of Rio de Janeiro, was discovered in 2001 in water depths of 2,400 meters and contains relatively heavy oil (17° to 20° API). A pre-Salt prospect has also been identified below the Xerelete structure, which lies around 40 kilometers west of the recently announced Pão de Açucar discovery.
Total plans to start drilling activities in 2013.
In addition to its participation in Xerelete, Total holds a 20 % interest in Block BM-S-54, where the Gato do Mato discovery is being appraised.
Press Release, July 10, 2012