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

Related Stories

Enauta Sells 20% Stake in Atlanta and Oliva Fields in $300M Deal

World’s First Floating Wind Innovation Centre Opens

CEO Says Exxon Mobil Not Trying to Buy Hess

Current News

Netherlands Receives Multiple Bids in 4GW Offshore Wind Tender

Welsh Port Steps Closer to Becoming Floating Wind Hub

Baker Hughes: US Drillers Cut Oil and Gas Rigs for Second Week In A Row

Seaway7 Gets Baltica 2 Offshore Wind Job

Subscribe for OE Digital E‑News