The board of directors for Petrobras has approved the sale of 100% of the shares issued by Bogota-based Petrobras Colombia Ltd. (PEC) to Perenco for US$380 million, the company announced on 13 Sept 2013.
Petrobras Colombia is selling its interest in 11 onshore exploration and production blocks, with net average production of 6,530 boe/d. Colombia produces more than 1 million bo/d, all from onshore fields, and is one of only nine countries producing at that level that are not members of OPEC.
Petrobras is also divesting ownership of two oil pipelines that connect production to the Caribbean export terminal at Covenas: the Colombia and Alto Magdalena pipelines, with a carry capacity of 14,950 b/d and 9,180 b/d, respectively.
Completion of the deal is subject to approval by Colombia's National Hydrocarbons Agency, Agencia Nacional de Hidrocarbons (ANH).
Petrobras said it will keep its offshore exploratory blocks in Colombia, continue to run its distribution business, and press ahead with its single-block onshore exploratory operation.
This deal represents another important step in Petrobras' Divestment Program (Prodesin), part of the 2013-2017 Business and Management Plan, Petrobras said.
Image: map of blocks offshore Colombia from Wildcat International FZ-LLC, The Oil & Gas Year 2013
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