Total Studying Participation in Round 9
French oil and gas company Total (NYSE: TOT) is studying whether to participate in Brazil's hydrocarbons round nine, Patrick Pluen, general manager for Total E&P in Brazil, said during the Latin Upstream Conference in Rio de Janeiro.
"We're going to study the information from [Brazil's oil and gas regulator] ANP to see if we'll take part," he said.
Total's participation depends on which areas ANP offers in the bidding round.
"We are mainly interested in areas in the Campos and Santos basins," Pluen said.
GROWTH IN LATAM
The French company plans to grow in Latin America mainly through its existing assets in Argentina, Venezuela, Colombia, Bolivia and Trinidad & Tobago.
Specifically, Total plans to boost its focus on oil in Colombia and gas in Bolivia.
"However, the situation in Bolivia is not easy," Pluen said in reference to the country's nationalization program.
Total operates in 41 countries and produces oil and gas in 29. Latin America accounts for roughly 10% of its 2.5Mboe/d output.
Total in Brazil has a 41.2% stake in the BC-2 block in the Campos basin's Curio field.
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