Petrobras’ Million-Dollar Divestments in Espírito Santo: 3R Petroleum Acquired the Peroá, Cangoá, and Malombe Oil Fields for US$ 55 Million
The Brazilian oil giant Petrobras reported in a relevant fact this morning (01/02) that it sold its entire stake in the Peroá Hub, located in the Espírito Santo Basin, for US$ 55 million to 3R Petroleum. A sad piece of news this morning, Petrobras reports the death of an employee in an accident that occurred yesterday (31/01) at FPSO Cidade de Mangaratiba.
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The Peroá Hub contains the Peroá and Cangoá fields, which belong to concession BM-ES-21 (Malombe Discovery Assessment Plan). OP Energia and DBO Energia, subsidiaries of 3R Petroleum, will form a consortium to acquire the Peroá Hub, each holding a 50% stake, with the former as the operator.
According to Petrobras’ report on the US$ 55 million, US$ 5 million will be paid on the present date; US$ 7.5 million at the closing of the transaction, and US$ 42.5 million in contractually anticipated contingent payments related to factors such as the declaration of commerciality of Malombe, future oil prices, and extension of concession terms.
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“The amounts do not consider adjustments due until the closing of the transaction, which is subject to the fulfillment of precedent conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP)” said Petrobras in the statement.
Roberto Ardenghy, Director of Institutional Relations and Sustainability at Petrobras, believes that signing the contract is an important milestone in consolidating a stronger and more competitive industry. “Our goal is to maximize the value of our portfolio and provide opportunities for other companies in the sector to also thrive. In the portfolio of these companies, the Peroá Hub can develop, receive new resources, and extend its lifespan, positively impacting job creation and income for the region.”
About the Peroá Hub of Petrobras in the Espírito Santo Basin
Petrobras holds a 100% stake in the Peroá and Cangoá fields, located in shallow waters, with an average production in 2020 of about 658,000 m3/day of non-associated gas, and a 100% stake in the exploratory block BM-ES-21, located in deep waters, which contains the Malombe discovery.
About OP Energia and DBO Energia
OP Energia is a wholly-owned subsidiary of 3R Petroleum Óleo e Gás S.A., a company listed on the Novo Mercado of the Brazilian stock exchange, whose strategy is to revitalize mature onshore and offshore fields.
According to Ricardo Savini, president of 3R Petroleum, “Petrobras’ decision to divest, especially in mature fields, energizes the Brazilian oil and gas market and allows for the structure
