Total Acquires Interest in Santos Basin



Total has acquired a 20% interest from Shell in the BM-S-54 license in the Santos Basin. Shell will remain as operator, holding an 80% interest. The block covers an area of 172,974 acres (700 square kilometers) in water depths of about 6,562 feet (2,000 meters). Exploration drilling is planned for later this year, which is subject to approval by the National Agency of Petroleum and the Brazilian Institute of Environment and Renewable Natural Resources.

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