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French oil giant Total expects to invest BRL 15 billion ($3.
34 billion)
in Brazil's oil and gas industry over the next five years, according to local media in Brazil.
Arnaud Breuillac, Total's head of exploration and production, said the company plans to spend $600 million to $700 million a year by 2024, aiming to boost the country's oil production from the current 40,000 barrels to an average of 150,000 barrels
per day.
The company operates the Lapa field in Block BM-S-9A and has equity interests
in several other production areas.
On the exploration side, Total holds stakes in the Gato do Mato exploration licence, Itaipu and Wahoo fields; and interests
in 17 exploration sites in the Barreirinhas, Ceará, Espirito Santo, Foz do Amazonas and Pelotas basins.
French oil giant Total expects to invest BRL 15 billion ($3.
34 billion)
in Brazil's oil and gas industry over the next five years, according to local media in Brazil.
Arnaud Breuillac, Total's head of exploration and production, said the company plans to spend $600 million to $700 million a year by 2024, aiming to boost the country's oil production from the current 40,000 barrels to an average of 150,000 barrels
per day.
The company operates the Lapa field in Block BM-S-9A and has equity interests
in several other production areas.
On the exploration side, Total holds stakes in the Gato do Mato exploration licence, Itaipu and Wahoo fields; and interests
in 17 exploration sites in the Barreirinhas, Ceará, Espirito Santo, Foz do Amazonas and Pelotas basins.
