To Concentrate Its Deep And Ultra-Deep Water Oil Exploration Assets, Petrobras Sells Post-Salt Assets in the Espírito Santo Basin for R$ 390 Million

Written by Flavia Marinho

Published on 05/07/2022 at 09:32

Updated on 19/07/2022 at 15:08

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The Average Total Production of the Golfinho Oil Field, From January to May 2022, Was 8.6 Thousand BPD of Oil and 90 Thousand M3/Day of Gas

Petrobras, continuing the announcement made on 06/23/2022, informs that on the 24th, it signed with BW Energy Maromba do Brasil (BWE), contracts for the sale of its entire stake in the offshore oil fields known as Polo Golfinho and Polo Camarupim, in deep waters in the pre-salt, located in the Espírito Santo Basin.

According to Petrobras, the total value of the sale is up to US$ 75 million, being (a) US$ 3 million paid today, (b) US$ 12 million to be paid at the closing of the transaction, and (c) up to US$ 60 million in contingent payments, depending on future Brent prices and the development of the oil fields.

“The amounts do not consider the adjustments due until the closing of the transaction, which is subject to the fulfillment of certain conditions precedent, such as approval by the Administrative Council for Economic Defense (CADE) and the National Petroleum, Natural Gas and Biofuels Agency (ANP)”, said Petrobras in the announcement.

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About the Golfinho and Camarupim Fields

The oil field known as Golfinho is located in water depths between 1,300 m and 2,200 m, comprising the Golfinho oil-producing fields, Canapu, a non-associated gas producer, and the exploratory block BM-ES-23.

The Camarupim field is located in water depths between 100 m and 1,050 m, comprising the unitized fields of Camarupim and Camarupim Norte, both of which are non-associated gas fields.

Petrobras holds a 100% stake in the concession sets of the Golfinho and Camarupim fields, except for the exploratory block BM-ES-23, in which it has a majority stake of 65%, in partnership with PTTEP (20%) and INPEX (15%). Petrobras is the operator in all concessions.

The average total production of the Golfinho field, from January to May 2022, was 8.6 thousand bpd of oil and 90 thousand m3/day of gas. The other areas are not in production.

To Concentrate Its Deep And Ultra-Deep Water Oil Exploration Assets, Petrobras Sells Post-Salt Assets in the Espírito Santo Basin for R$ 390 Million

The Average Total Production of the Golfinho Oil Field, From January to May 2022, Was 8.6 Thousand BPD of Oil and 90 Thousand M3/Day of Gas

About the Golfinho and Camarupim Fields

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To Concentrate Its Deep And Ultra-Deep Water Oil Exploration Assets, Petrobras Sells Post-Salt Assets in the Espírito Santo Basin for R$ 390 Million

The Average Total Production of the Golfinho Oil Field, From January to May 2022, Was 8.6 Thousand BPD of Oil and 90 Thousand M3/Day of Gas

About the Golfinho and Camarupim Fields

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The United Kingdom removed approximately 1.8 million cubic meters of sand from the seabed and is depositing it all on 6 kilometers of beaches in Norfolk, in a mega-operation to curb erosion, protect coastal villages, and shield a vital gas terminal against the encroaching Atlantic.

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