Cobra Group fills the piggy bank of the Brazilian oil giant Petrobras and acquires, for US$ 1,1 billion, 11 onshore oil and gas fields in Sergipe

Petrobras announced, in a Material Fact to the market, the sale of its entire stake in the onshore oil and gas fields, at Polo Carmópolis, in Sergipe, to Carmo Energy. The contract is worth 1,1 billion dollars.

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According to the company's statement, the amount is divided into a down payment of US$275 million, another US$550 million at the closing of the operation and another US$275 million after 12 months of completion. These values ​​do not consider adjustments due until the closing of the transaction, which is subject to the fulfillment of conditions precedent, such as approval by the antitrust body Cade and the regulator ANP, pointed out the state-owned company.

Polo Carmópolis comprises 11 onshore production concessions located in Sergipe and includes access to oil and natural gas processing, outflow, storage and transportation infrastructure.

Also part of the asset is the Atalaia Hub, which contains the Aracaju Waterway Terminal (Tecarmo), and the Bonsucesso-Atalaia pipeline, which transports oil production from Carmópolis to Tecarmo.

Also in the statement, Petrobras said that the sale is in line with its portfolio management and capital allocation improvement strategy.

About Carmo Energy

A Carmo Energy is an affiliate of the Cobra group and, with this operation, enters the oil and natural gas production, processing, outflow, storage and transport sector in Brazil. Grupo Cobra has extensive experience in exploration, production and sale of oil and natural gas from onshore fields in other American countries (Mexico, Colombia, Ecuador). Other companies in the same group have been present in Brazil for over 20 years, in sectors such as electricity transmission and power generation.