Brazilian oil and gas firm Brava Energia has decided to terminate the negotiations related to the divestment process onshore and shallow water assets, which were limited to the fields located in Brazil’s Bahia state.
This decision comes after record production levels and greater operational efficiency of the company’s onshore assets in Bahia over the past quarters, which has strengthen its strategic position in the gas segment and enhance the synergies of an integrated portfolio,
Also, the decision was affected by the start of operations of the FPSO Atlanta and the achievement of greater operational efficiency at Papa-Terra, the company’s two main offshore projects.
“In this context, the management decided to maintain a diversified asset portfolio, mitigating the risks inherent in concentrating operations in specific projects, in order to ensure production resilience in a dynamic market,” said Brava Energia.