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Total press release
Total and Petrobras are pleased to announce that they have achieved significant progress in the scope of their Strategic Alliance, signed in March 2017:
- With regard to artificial intelligence: new automatic techniques to identify geological faults, leading to significant efficiency gains.
- With regard to low permeability reservoirs: new processes and tools to locate the potentially most productive areas, with direct applications on fields like Sururu (Iara concession).
Following this transaction, which remains subject to approval by the relevant Brazilian authorities, Total, operator of the field located in the pre-salt Santos Basin, will hold a 45% working interest alongside Shell (30%) and Repsol-Sinopec (25%).
The Joint Venture will look to build up to 500 MW of installed capacity over the next five years.
"We are very pleased to strengthen our presence in the Total-operated Lapa field in the Santos Basin, the first pre-salt producing field operated by an IOC in Brazil, and to extend our Strategic Alliance with Petrobras to renewable developments through Total Eren in Brazil," said Patrick Pouyanné, Chairman and CEO of Total. "Once more, we demonstrate the importance of joint investment opportunities, and reinforcing the technological cooperation existing between our two companies."
In addition, Total and Petrobras will keep pursuing new business opportunities in the natural gas chain in Brazil.