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Seeking to Expand Your Business Portfolio in the Brazilian Oil and Natural Gas Market, BW Energy Was Invited by Petrobras to Participate in the Sale Negotiations of the Fields Owned by the State Located in the Golfinho Polo.
On the morning of this Tuesday, (06/14), BW Energy took another step in its quest to increase its presence in the Brazilian oil and gas sector. After acquiring the Maromba field, it was invited by Petrobras to negotiate the sale of the oil and natural gas fields located in the Golfinho Polo, in the Espírito Santo Basin. The state-owned company is undergoing its divestment project in the polo, and BW Energy may be part of future concession contracts for the fields after the invitation.
Petrobras Invites BW Energy to Participate in Its Divestment Plan Negotiations for the Oil and Natural Gas Fields in the Golfinho Polo
Continuing its project for the concession of wells and oil and gas exploration fields in the national territory, Petrobras has now invited BW Energy to participate in the negotiations for the sale of the oil and natural gas fields in the Golfinho Polo.
The reserves of the state-owned company are located in the deep waters of the Espírito Santo Basin and may be part of the company’s growth plan in the oil sector in the coming months.
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BW Energy had already been eyeing several oil and natural gas exploration fields in Brazil and recently acquired the Maromba field to expand its presence in the segment. Now, the energy company seeks to further diversify its participation in oil and gas exploration in Brazil and may undertake the future acquisition of Petrobras’ oil fields in the Golfinho Polo to secure new productive business for its portfolio.
The location of the Golfinho Polo is quite strategic, situated in water depth between 1,300 meters and 2,200 meters, encompassing the Golfinho field, an oil producer, and the Canapu field, a non-associated gas producer, as well as the exploratory block BM-ES-23.
Petrobras holds a 100% stake in the concessions in the area, except for the exploratory block BM-ES-23, where it has a 65% stake, in partnership with PTTEP (20%) and Inpex (15%). Thus, the company is now seeking divestment in the polo and intends to grant concessions for the exploration of natural gas and oil in the coming months.
Company May Further Diversify Its Business Portfolio in the Oil and Gas Sector with Negotiations for the Golfinho Polo with Petrobras
BW Energy is increasingly focused on the Brazilian oil and gas sector and currently holds a 73.5% participation in the Dussafu Marine Permit, offshore Gabon; and a 95% stake in the Maromba field in the Campos Basin.
Thus, the company’s net reserves in the sector totaled approximately 241 million barrels at the beginning of 2022, and the main focus of the company is to expand these numbers over the next year.
In this way, the energy company announced the state-owned company’s invitation in a statement this Tuesday: “BW Energy was invited to the negotiation stage, as communicated by the company today. The signing of the purchase and sale contract is still subject to the approval of the competent Petrobras authorities.” Meanwhile, Petrobras stated that “it reaffirms its commitment to the broad transparency of its divestment projects and management of its portfolio and informs that the subsequent stages of the project will be disclosed in a timely manner.”
Thus, both companies will work transparently and clearly with the public regarding the negotiations for the sale of the Golfinho Polo fields, but they await new developments for the partnership in the coming days.
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