Total Buys Further 10% Stake in Brazil's Lapa Field
December 21 2018 - 6:17AM
Dow Jones News
By Alberto Delclaux
Total SA (FP.FR) said Friday that it has agreed to buy a further
10% stake in Brazil's Lapa field from Petroleo Brasileiro S/A
(PETR3.BR) for $50 million.
Following the transaction, Total will hold a 45% stake in the
oil field, while Royal Dutch Shell PLC (RDSA.LN) will own 30% and
Repsol Sinopec the remaining 25%.
French energy company Total also signed an agreement with
Brazilian oil major Petrobras to create a joint venture by July 31,
2019. The JV is aimed at developing onshore solar and wind projects
with up to 500 megawatts of capacity over the next five years.
Write to Alberto Delclaux at alberto.delclaux@dowjones.com
(END) Dow Jones Newswires
December 21, 2018 06:02 ET (11:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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