Em venda bem sucedida, Petrobras passou para petroleira da Malásia 50% de dois ativos na Bacia de Campos

In Successful Sale, Petrobras Transferred 50% of Two Assets in Campos Basin to Malaysian Oil Company

Written by Paulo Nogueira

Published on 28/12/2019 at 07:49

Updated on 28/12/2019 at 09:47

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Petronas Completed the Sale of Tartaruga Verde and Módulo III of Espadarte Fields with Petrobras on the 27th

Petrobras completed today (12/27) the sale of 50% of the exploration and production rights of the Tartaruga Verde field (concession BM-C-36) and Módulo III of the Espadarte field to Petronas Petróleo Brasil, a subsidiary of Petroliam Nasional Berhad (Petronas).

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The transaction was completed with a payment of US$ 691.9 million to Petrobras, after all the preconditions set forth in the contract were met. The company had already received US$ 258.7 million as a deposit on the date of signing, in April 2019.

The Executive Manager of Deep Waters at Petrobras, José Marcusso, highlighted the importance of the partnership in the Tartaruga Verde fields and the Módulo III of Espadarte: “The partnership with Petronas, an integrated and large-scale company, is aligned with Petrobras’ strategy to seek partnerships that add value to its deep and ultra-deep water assets.”

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For Petronas’ General Director, Azman A. Aziz, the operation confirms Petronas’ progress in the oil business in South America. In addition to Tartaruga Verde and the Módulo III of Espadarte, the company recently acquired three blocks in a bidding process in Brazil. “We hope that this new partnership with Petrobras also meets the expectations of the Brazilian energy sector,” he stated.

This operation introduces a new player in E&P to Brazil and reinforces Petrobras’ strategy of operating in partnerships in E&P in deep waters. The transaction aligns with the optimization of the portfolio and improved capital allocation for the company, aiming to generate value for shareholders.

About the Fields

Petrobras will retain a 50% stake and operate the fields. The Tartaruga Verde field began operations on 06/22/2018 and currently produces about 103 thousand bpd of oil and 1.2 million m³/day of gas. The Módulo III is an area of the Espadarte field to be developed in an integrated manner with the Tartaruga Verde field, with the first oil expected in 2021.

About Petronas

Founded in 1974, Petronas is a fully integrated Malaysian multinational oil and gas company, ranked among the largest companies on the Fortune Global 500®. As the holder of Malaysia’s national oil and gas resources, the Company explores, produces, and delivers energy to meet the growing demands of society. The rising demand for energy inspires and strengthens the Company’s objective to constantly seek new solutions and transcend boundaries toward a sustainable energy future.

Source: Petrobras Press

In Successful Sale, Petrobras Transferred 50% of Two Assets in Campos Basin to Malaysian Oil Company

Petronas Completed the Sale of Tartaruga Verde and Módulo III of Espadarte Fields with Petrobras on the 27th

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About the Fields

About Petronas

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