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Petrobras Sale Agreements With Karoon and Trident Total $1.5 Billion

Written by Paulo Nogueira
Published on 25/07/2019 at 08:21
Petrobras Karoon Trident Energy Bilhões
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The Brazilian Oil And Gas Giant Petrobras Signed Contracts With Trident Energy And Karoon Gas For The Sale Of Upstream Assets In Shallow Waters In The Campos And Santos Basins, Totaling US $ 1.5 Billion.

As Previously Reported In Early July, Karoon Made The Best Offer In The Process To Acquire 100% Operational Interest In The BM-S-40 Concession In The Santos Basin In Brazil, Which Contains The Bauna Light Oil Production Project.

Additionally, It Was Reported Earlier This Week That Trident Had Made The Best Final Offer For The Pampo And Enchova Clusters.

In A Statement On Wednesday, July 24, Petrobras Announced That It Has Signed Contracts With Trident For The Sale Of 100% Of Its Interest In The Pampo And Enchova Clusters Located In Shallow Waters In The Campos Basin, And Another With Karoon For The Sale Of 100% Of Its Interest In The Baúna Field (Awarded Area BM-S-40), Located In Shallow Waters In The Santos Basin.

Pampo And Enchova Clusters

The Transaction Value Is US $ 851 Million, To Be Paid In Two Installments: US $ 53.2 Million Upon Contract Signing; And US $ 797.8 Million, Before Adjustments, On The Closing Date.

The Contract Also Provides For Additional Contingent Payments Of Up To US $ 200 Million, Depending On Future Oil Prices.

The So-Called Pampo And Enchova Axes Are Located In The Campos Basin Off The Coast Of Rio De Janeiro, And Include The Enchova, Enchova Oeste, Marimbá, Piraúna, Bicudo, Bonito, Pampo, Trilha, Linguado, And Badejo Fields. The Current Total Oil And Gas Production From These Fields Is Approximately 25,500 Barrels Per Day, Through The PPM-1, PCE-1, P-8, And P-65 Platforms.

With This Transaction, Trident Will Be The Operator Of These Concessions With 100% Interest.

Bauna Field

The Transaction Value Is US $ 665 Million, To Be Paid In Two Installments: US $ 49.9 Million Upon Contract Signing; And US $ 615.1 Million, Before Adjustments, On The Closing Date.

The Baúna Field, Located In The Santos Basin Off The Coast Of São Paulo State, Began Operations In February 2013 And Currently Produces About 20,000 Barrels Of Oil Per Day Via The FPSO Cidade De Itajaí. With This Transaction, Karoon Will Become The Operator With 100% Interest.

The Managing Director Of Karoon, Robert Hosking, Said: “The Company Has Been Working Hard Over The Last Three Years To Acquire A High-Quality Production Asset With Robust Economic Returns. By Acquiring The Baúna Asset, Karoon Has Fulfilled Its Highest Strategic Priority.”

“Baúna Will Provide Karoon Shareholders With Material Oil Production (Currently Approximately 20 Mbopd Before Development Workovers) And A Platform For Future Growth. The Transaction Will Be Transformational For Karoon Shareholders, Providing Significant Exposure To High-Margin Oil Reserves, Resources, And Production.”

“The Acquisition Of Baúna Opens A New Phase For Karoon As A Significant Oil Producer Listed On The ASX. It Is Expected To Generate Significant Operational And Logistical Synergies With Other Exploration And Development Assets In The Santos Basin, Owned 100% By Karoon.”

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Paulo Nogueira

Eletrotécnica formado em umas das instituições de ensino técnico do país, o Instituto Federal Fluminense - IFF ( Antigo CEFET), atuei diversos anos na áreas de petróleo e gás offshore, energia e construção. Hoje com mais de 8 mil publicações em revistas e blogs online sobre o setor de energia, o foco é prover informações em tempo real do mercado de empregabilidade do Brasil, macro e micro economia e empreendedorismo. Para dúvidas, sugestões e correções, entre em contato no e-mail informe@en.clickpetroleoegas.com.br. Vale lembrar que não aceitamos currículos neste contato.

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