Seeking to increasingly expand its business portfolio in the Brazilian oil and natural gas market, BW Energy was invited by Petrobras to participate in the negotiations for the sale of the state's fields located in Polo Golfinho.

This Tuesday morning (14/06), BW Energy took another step towards expanding its presence in the Brazilian oil and gas sector. After the acquisition of the Maromba field, invited by Petrobras to negotiate the sale of oil and natural gas fields located in Polo Golfinho, in the Espírito Santo Basin. The state-owned company has its divestment project in the center and BW Energy can be part of the future concession contracts of the fields after the invitation. 

Petrobras invites BW Energy to participate in the negotiations for its divestment plan for the oil and natural gas fields at Polo Golfinho

Continuing with its concession project for 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 at Polo Golfinho.

The state-owned company's reserves are located in the deep waters of the Espírito Santo Basin and may form part of the energy company's growth plan in the oil sector over the coming months. 

BW Energy already had its eye on 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 carry out the future acquisition of Petrobras' oil fields at Polo Golfinho, to guarantee new productive businesses for its portfolio. 

The location of the Polo Golfinho is very strategic and is located in a water depth between 1.300 meters and 2.200 meters, comprising the fields of Golfinho, an oil producer, and Canapu, a non-associated gas producer, and the exploratory block BM-ES-23 .

Petrobras has a 100% stake in the concessions in the area, with the exception of 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 to disinvest in the hub and intends to grant the areas for natural gas and oil exploration in the coming months. 

The company can further diversify its business portfolio in the oil and gas sector with the negotiations for Polo Golfinho with Petrobras

BW Energy is increasingly focused on the Brazilian oil and gas industry and currently has a 73,5% stake in the production of Dussafu Marine Permit, offshore Gabon; and a 95% stake in the Maromba field in the Campos Basin.

In this way, the company's net reserves in the sector were totaling around 241 million barrels at the beginning of 2022 and the company's main focus is to expand these numbers over the next year. 

Thus, the energy company announced the invitation of the state-owned company in a note this Tuesday: “The company BW Energy was invited to the negotiation stage, as communicated by this company today. The signing of the purchase and sale contract is still subject to the approval of the competent bodies of Petrobrás”. While Petrobras stated that it "reinforces 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".

In this way, both companies will work transparently and clearly with the public regarding the negotiations regarding the sale of the Polo Golfinho fields, but await new directions for the partnership over the next few days.