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The Brazilian oil giant continues to sell its onshore assets to focus on offshore pre-salt oil exploration.
The Brazilian oil giant Petrobras, informed yesterday (02/07), in a material fact, that it has started the opportunity disclosure stage (teaser) referring to the sale of its entire stake in the exploratory blocks belonging to the PAR-T-175_R14 concessions, PAR-T-198_R12 and PAR-T-218_R12, located on land, in the Paraná Basin.
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According to the state-owned company, this operation is in line with the strategy of optimizing the portfolio, reducing debt and improving the company's capital allocation, starting to increasingly focus its resources on world-class assets in deep and ultra-high waters. deep waters, where Petrobras has demonstrated a great competitive edge over the years.
Exploratory oil blocks in the Paraná Basin
The concessions for the PAR-T-198_R12 and PAR-T-218_R12 oil blocks, located in the extreme west of the state of São Paulo, were acquired in the 12th Bidding Round of the ANP, in 2013, and are currently in the 1st Exploration Period and with commitments of the Minimum Exploratory Program (PEM) already fully complied with. Petrobras holds a 100% stake.
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The PAR-T-175_R14 Concession, located in the eastern portion of the state of Mato Grosso do Sul, was acquired in the 14th ANP Bidding Round, in 2017, and has a Single Exploration Period of 6 years. Petrobras holds a 100% stake.
According to Petrobras, those interested can check out the teaser, which contains the main information about the oil block opportunity, as well as the eligibility criteria for the selection of potential participants, directly on the company's Investor Relations website, using this link.
Petrobras also informs that the main subsequent stages of the project will be informed in due time to the market and that this disclosure is in accordance with the company's internal rules.
