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

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