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Petrobras Receives $298 Million and Sells 11 Oil and Gas Production Concessions to Carmo Energy

Written by Paulo Nogueira

Published on 11/01/2024 at 01:15

Updated on 11/01/2024 at 10:10

Oil and Gas

A Carmo Energy comprou o ativo em dezembro de 2021, por US$ 1,1 bilhão. Foto: Governo de Sergipe – Todos os direitos: EPBR

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Divestment Program Includes Development Plan for Oil Production in Onshore Fields in the Carmópolis Pole.

Today, Petrobras announced that it has completed the receipt of US$ 298 million related to the sale contract of Carmópolis Pole (SE) to Carmo Energy. The amount includes adjustments and overdue charges due and represents the final installment of the sale agreement, which was due on December 20 of last year.

Carmópolis Pole is an important oil exploration field located in Sergipe. The sale to Carmo Energy is part of Petrobras‘ divestment and cost-reduction strategy aimed at strengthening its operations in other strategic areas. With the completion of the payment, the company reinforces its financial position and continues moving toward new challenges and growth opportunities.

Expansion of Carmópolis Pole by Carmo Energy

Carmo Energy acquired the asset in December 2021 for a significant amount of US$ 1.1 billion. According to information from Petrobras, a total of US$ 275 million was paid as a sign at the time, and the other US$ 548 million was disbursed in December of last year, closing date of the transaction.

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Petrobras Divestment and Development Program

The field was included in Petrobras’ divestment program during the government of Jair Bolsonaro.

Carmópolis is known as the largest onshore field in Brazil, with an original volume of 1.76 billion barrels of oil equivalent. In addition, it is the oldest in Sergipe, having started production in 1963.

In 2017, after reviewing the field’s development plan, Petrobras projected that the recovery factor could reach 32%.

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Polo Carmópolis Produção de Petróleo

Paulo Nogueira

Graduated in Electrical Engineering from one of the country's technical education institutions, the Instituto Federal Fluminense - IFF (formerly CEFET), he worked for several years in the offshore oil and gas, energy, and construction sectors. Today, with over 8,000 publications in online magazines and blogs on the energy sector, the focus is to provide real-time information on the Brazilian job market, macro and microeconomics, and entrepreneurship. For questions, suggestions, and corrections, please contact us at informe@clickpetroleoegas.com.br. Please note that we do not accept resumes at this contact.

Petrobras Receives $298 Million and Sells 11 Oil and Gas Production Concessions to Carmo Energy

Divestment Program Includes Development Plan for Oil Production in Onshore Fields in the Carmópolis Pole.

Expansion of Carmópolis Pole by Carmo Energy

Petrobras Divestment and Development Program

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Petrobras Receives $298 Million and Sells 11 Oil and Gas Production Concessions to Carmo Energy

Divestment Program Includes Development Plan for Oil Production in Onshore Fields in the Carmópolis Pole.

Expansion of Carmópolis Pole by Carmo Energy

Petrobras Divestment and Development Program

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