The oil company Ouro Preto Energia, a subsidiary of 3R Petroleum, acquired in Bahia for US$ 250 million plus 14 Petrobras onshore oil fields

Petrobras informed in a material fact last night (17/12) that it signed a contract with 3R Petroleum Oil and Gas SA, for the sale of its entire stake in fourteen onshore oil exploration and production fields, called Polo Recôncavo, located in the state of Bahia. To encourage the exploration of onshore fields, the Government will offer large regional blocks

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The Recôncavo Hub has fields located in the municipalities of Candeias, Salvador, Santo Amaro, São Francisco do Conde, São Sebastião do Passé and Simões Filho.

According to the statement from the state-owned company, US$ 10 million will be paid on the date the contract is signed, while the remaining amount will be paid at the closing of the transaction.

Petrobras also informs that values ​​do not consider the adjustments due and the closing of the transaction is subject to the fulfillment of conditions precedent, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

For the director of Institutional Relations and Sustainability, Roberto Ardenghy, divestments are advantageous for the region where the asset is located. “Petrobras' strategy is to divest to reduce our debt and focus on world-class assets. The concessions we are selling will produce even more under the command of the new companies. The new buyers will make the necessary investments to develop these areas, increasing production and consequently generating more tax collections and more jobs for the surrounding population”, stated Ardenghy.

According to Ricardo Savini, CEO of 3R, the acquisition paves the way for the company to establish, together with Polo Rio Ventura, a relevant operation in the Recôncavo Basin. “The asset has great potential for increasing the recovery factor and increasing oil and gas reserves. We are increasing our operations in the State of Bahia”, said Ricardo.

About the Recôncavo Pole – Petrobras – Bahia

The Hub comprises the land fields of Aratu, Ilha de Bimbarra, Mapele, Massui, Candeias, Cexis, Socorro, Dom João, Dom João Mar, Pariri, Socorro Extension, São Domingos, Cambacica and Guanambi, located in the state of Bahia. Petrobras is the operator with a 100% interest in these concessions, with the exception of Cambacica and Guanambi, in which it has a majority interest of 75% and 80%, respectively. The average production of the Recôncavo Complex from January to November 2020 was approximately 2.145 barrels of oil per day (bpd) and 465 m³/day of natural gas.

This operation is in line with the portfolio optimization strategy and the improvement of the company's capital allocation, starting to increasingly concentrate its resources on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated a great competitive advantage. over the years.

Dispute in Urucu

A 3R Petroleum made the highest bid for the purchase of the Urucu Complex, in the Solimões Basin, with a proposal of around US$ 1 billion.

Eneva made the second-biggest bid at around $600 million.

The bidding ended up being canceled and restarted by Petrobras, which receives proposals for the project again in January.