Bloomberg reported that Total SA is studying expansion in Brazil as part of a plan to reverse falling output by developing new projects.

Mr Christophe de Margerie CEO of Total, after meeting Mr Jose Sergio Gabrielli CEO of Petroleo Brasileiro SA, said that "Brazil definitely would be an interesting target. We think we can help Petrobras to develop huge resources that they have in front of them."

Mr de Margerie said that teaming up with state controlled Petrobras would be in keeping with Total’s strategy to develop ties with national oil companies in countries with large hydrocarbon reserves said in an interview. He added that "This is what we’ve been doing with Gazprom to develop the Shtokman field in the Barents Sea."

(Sourced from www.bloomberg.net)