Petrobras Sells Shallow-water Fields for $1.5 Bln

Thursday, July 25, 2019

Brazilian state-controlled oil company Petroleo Brasileiro SA signed on Wednesday two contracts to sell shallow-water oilfields in the basins of Campos and Santos for $1.5 billion plus $200 million in future payments, the company said in a securities filing.

Pampo and Enchova fields were sold to a subsidiary of Trident Energy for $851 million and an additional future payment of $200 million, depending on oil prices. The Bauna field was sold for $665 million to a subsidiary of Australia's Karoon Energy Ltd.

(Reporting by Tatiana Bautzer; Editing by Lisa Shumaker)

Categories: Energy Industry News South America Shallow Water

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