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French energy company Total said today that it will not participate in the auction
of the "right transfer" area in the pre-salt area offshore of Brazil, scheduled for November 6.
Total CEO Patrick Pouyanne has confirmed this
with a statement.
The Brazilian government is expected to raise R$106 billion (about $25.
8 billion) through the auction, which is expected to attract major global oil companies
.
A consortium led by Total won exploration and production rights for an offshore block near the pre-salt area last Thursday, agreeing to pay the government 4 billion reais ($978 million).
French energy company Total said today that it will not participate in the auction
of the "right transfer" area in the pre-salt area offshore of Brazil, scheduled for November 6.
Total CEO Patrick Pouyanne has confirmed this
with a statement.
The Brazilian government is expected to raise R$106 billion (about $25.
8 billion) through the auction, which is expected to attract major global oil companies
.
A consortium led by Total won exploration and production rights for an offshore block near the pre-salt area last Thursday, agreeing to pay the government 4 billion reais ($978 million).
