Petrobras Completes Espírito Santo Asset Sale

Friday, August 5, 2022

Petrobras has completed the sale of all its stakes in the producing fields of Peroá and Cangoá, and in the BM-ES-21 concession (Malombe Discovery Evaluation Plan) jointly called Peroá Cluster, located in the Espírito Santo Basin to the company 3R Petroleum Offshore.

The deal was worth US$ 13.07 million to Petrobras, plus up to $ 42.5 million in contingent payments, depending on future Brent prices and asset development.

Petrobras held 100% stakes in the Peroá and Cangoá fields, located in shallow waters, whose average production from January to June 2022 was about 572,000 cu m/day of non-associated gas, and 100% stakes in the BM-ES-21 exploratory block, in deep waters, where the Malombe discovery is located.

3R Petroleum Óleo e Gás, previously called OP Energia Ltda, is focused on the redevelopment of mature and producing fields. 

Earlier, Petrobras said the sale was aligned with the strategy of portfolio optimization and the improvement of the allocation of the company's capital, concentrating increasingly its resources on world-class assets in deep and ultra-deep waters, "where Petrobras has shown great competitive edge over the years."

Categories: Energy Mergers & Acquisitions Industry News Activity South America Latin America

Related Stories

US to Ease Venezuela Oil Sanctions to Speed Exports

Denmark, Germany Agree to Proceed with Bornholm Energy Island Wind Project

Brava Energia to Buy Petronas Stake in Campos Basin Assets for $450M

Current News

Equinor Gets Permit to Drill North Sea Wildcat Well

Noble Completes $360M Sale of Five Jack-Ups to Borr Drilling

Russia’s Lukoil Agrees to Sell Foreign Assets to US’ Carlyle Group

Worley Nets Equinor’s Framework Deal for Norway Offshore Assets

Subscribe for OE Digital E‑News