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Total moves on Petrobras' pre-salt assets, as the O&G sector gains confidence


Total moves on Petrobras' pre-salt assets, as the O&G sector gains confidence

Report summary


Total acquired stakes in two of Petrobras’ pre-salt licences in the prolific Santos Basin, more than doubling its exposure to deepwater Brazil. The company also made a strategic entry to Brazil’s gas and power sector. The US$2.2 billion deal reflects Total’s shift to a more aggressive business development, buoyed by a rebound in oil prices and a new phase of strong cash flow growth.

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