More Divestment From Petrobras: State-Owned Company Announced Yesterday (07/02) The Sale Of Three Oil Exploration Blocks In The Paraná Basin

Written by Flavia Marinho

Published on 02/07/2021 at 16:08

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The Brazilian Oil Giant Continues Selling Its Onshore Assets to Focus on Offshore Pre-Salt Oil Exploration.

The Brazilian oil giant Petrobras reported yesterday (07/02) in a material fact that it has started the disclosure stage of the opportunity (teaser) regarding the sale of its entire stake in the exploratory blocks belonging to the concessions PAR-T-175_R14, PAR-T-198_R12, and PAR-T-218_R12, located onshore in the Paraná Basin.

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According to the state-owned company, this operation is in line with the strategy of portfolio optimization, debt reduction, and improved capital allocation, focusing increasingly on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated a significant competitive advantage over the years.

Exploratory Oil Blocks in the Paraná Basin

The concessions for the oil blocks PAR-T-198_R12 and PAR-T-218_R12, located in the far west of São Paulo state, were acquired in the 12th Bidding Round of the ANP in 2013 and are currently in the 1st Exploratory Period, with commitments under the Minimum Exploratory Program (PEM) fully met. Petrobras holds a 100% stake.

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The concession PAR-T-175_R14, located in the eastern part of Mato Grosso do Sul state, was acquired in the 14th Bidding Round of the ANP in 2017 and has a Unique Exploratory Period of 6 years. Petrobras holds a 100% stake.

According to Petrobras, interested parties can check the teaser, which contains the key information about the oil blocks opportunity, as well as the eligibility criteria for the selection of potential participants directly on the company’s Investor Relations website, at this link.

Petrobras also informs that the main subsequent steps of the project will be communicated to the market in due course and that this disclosure is in accordance with the company’s internal regulations.

More Divestment From Petrobras: State-Owned Company Announced Yesterday (07/02) The Sale Of Three Oil Exploration Blocks In The Paraná Basin

The Brazilian Oil Giant Continues Selling Its Onshore Assets to Focus on Offshore Pre-Salt Oil Exploration.

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More Divestment From Petrobras: State-Owned Company Announced Yesterday (07/02) The Sale Of Three Oil Exploration Blocks In The Paraná Basin

The Brazilian Oil Giant Continues Selling Its Onshore Assets to Focus on Offshore Pre-Salt Oil Exploration.

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