March 2, 2020 / 1:56 PM / a month ago

Total plans to invest up to $700 mln per year to grow Brazilian oil production

SAO PAULO, March 2 (Reuters) - French oil company Total plans to invest between $600 million and $700 million per year in Brazil for oil exploration and production through 2024, newspaper Valor Economic reported on Monday.

Total’s global chief for oil and exploration, Arnaud Breuillac, told the newspaper in an interview that it plans to grow its production to 150,000 bpd from 40,000 bpd currently in Brazil. (Reporting by Marcelo Rochabrun; Editing by Kirsten Donovan)

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