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Petrobras Earned US$ 37.6 Million from the Sale of the Dó-Ré-Mi Onshore Oil Field in Sergipe Lagoon to Centro Oeste Oil and Gas
Petrobras announced yesterday (08/05) that it sold its stake in the Dó-Ré-Mi onshore field, located in the Sergipe-Alagoas Basin in the state of Sergipe, to Centro Oeste Oil and Gas Exploration and Production Industry. The Largest Manufacturer of Sodium Bicarbonate in Latin America Establishes a New Industrial Pole in Bahia, Creating Many Job Opportunities
According to Petrobras’ report, the sale amounted to US$ 37.6 thousand, to be paid by Centro Oeste Oil and Gas in a single installment upon signing the contract.
The closing of the transaction is subject to the fulfillment of precedent conditions. Among them are the non-exercise of the right of first refusal by the current partner Petrogal Brasil S.A. and approval by the ANP (National Agency of Petroleum, Natural Gas and Biofuels).
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Petrobras’ disclosure is in accordance with the company’s divestment guidelines. It is also in accordance with the provisions of the special procedure for the transfer of rights for exploration, development, and production of oil, natural gas, and other fluid hydrocarbons, as outlined in Decree 9,355/2018.
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According to Petrobras, this operation is aligned with the strategy for portfolio optimization and improved capital allocation by the company. Thus, the company is increasingly focusing its resources on deep and ultra-deep waters. This is the niche where Petrobras has demonstrated a significant competitive advantage over the years.
About the Dó-Ré-Mi Oil Field in Sergipe
Petrobras states that the Dó-Ré-Mi field is part of the BT-SEAL-13 concession. It also comprises the Rabo Branco field, which is not included in this sale.
The concession is located south of the Carmópolis field in the Sergipe-Alagoas Basin in Sergipe. However, Petrobras holds only a 50% stake in the Dó-Ré-Mi field, partnering with Petrogal Brasil S.A. It is the operator and holds the remaining 50%. The Dó-Ré-Mi field has two exploratory gas wells with no commercial production.
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