On 21 December 2018, Total issued a press release indicating it acquired the remaining 10% working interest held by Petrobras in the BM-S-009A contract, Lapa production concession for USD 50 million pending governmental approvals.Â      Previously, Total was operator      with 35% working interest in the contract      and partners were Shell with 30%, Repsol Sinopec with 25%, and Petrobras      with 10%.Â    Upon      governmental approval, Total will be the operator with 45% working      interest, and partners will be Shell with 30%, and Repsol with 25%.Â    The      transaction represents another deal under the strategic alliance Total      closed with Petrobras in 2017.   On 15 January 2018, Petrobras announced the formal closing of the transaction and strategic alliance with Total related to the working interest sale in the BM-S-009A and BM-S-011A contracts.Â  The total transaction value is reported to be USD 2.350 billion with USD 1.95 billion paid in cash after adjustments and a USD 150 million contingent payment.Â  Additionally Petrobras has at its disposal from Total a USD 400 million line of credit to be utilized in the development of the BM-S-011 contract fields, which represented part of the Petrobras sunk costs in the two contracts.Â  Operations of the BM-S-009 contract, Lapa production concession was officially transferred to Total with the approval of IBAMA for the operator change on 28 December 2017.  On 28 November 2017, the ANP granted formal approval for the Petrobras farm-out to Total of working interest in the BM-S-009 and BM-S-011 contracts.Â  The ANP also approved of new, separate contracts for the BM-S-009 and BM-S-011 contracts due to both contracts now having different fields with different partnerships.Â  The new contracts are denominated the BM-S-009A and BM-S-011A.Â  Total now is operator with 35% working interest in the BM-S-009A contract, Lapa production concession and partners are Shell with 30%, Repsol Sinopec with 25%, and Petrobras with 10%. In the BM-S-011A contract, Berbigao, Oeste de Atapu, and Sururu production concessions total has a 22.5% non-operated working interest.Â  Petrobras retains a 42.5% working interest in the contract and is the operator while partners are Shell with a 25% working interest, Total with 22.5% working interest, and Petrogal with a 10% working interest.Â  Previously in the BM-S-001 contract Petrobras held a 65% interest and partners were Shell and Petrogal Brasil Ltda (Galp Energia) with 25%, and 10%, working interest respectively.Â  This still represents the working interest breakdown in the BM-S-011 contract, Lula production concession.Â  In the BM-S-009 contract, Sapinhoa production concession Petrobras is the operator with a 45% working interest, Shell holds 30%, and Repsol Sinopec holds 25%.
Kirthar Pakistan BV (KPBV), a subsidiary of Kuwait Foreign Petroleum Exploration Company (KUFPEC), has assigned 35% of its working interest in Paharpur 3170-5 EL (Indus Basin) onshore concession to Pakistan Petroleum Ltd (PPL)