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Petro-Victory Announces Acquisition of 3 Fields in the Espírito Santo Basin

Written by Paulo Nogueira
Published on 26/11/2019 at 06:22
Petro-Victory anuncia aquisição de 3 campos de petróleo na Bacia do Espírito Santo
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Multinational Investment in the Espírito Santo Basin in Partnership with Imetame Energia Aims to Increase Production of Its Onshore Assets

Petro-Victory Energy announced on November 25 that it acquired a 50% stake in 3 oil fields in the Espírito Santo Basin for a total of $4,686,223. The acquisition includes production concessions for Lagoa Parda, Lagoa Parda Norte, and Lagoa Piabanha in Espírito Santo. Also see that 28 new FPSOs will be installed between 2021 and 2030, estimates Pré-Sal Petróleo SA.

The company completed the transaction in partnership with Imetame Energia, as a result of successful contract negotiations during Petrobras’s divestment process. Subject to transfer and final approval by ANP, Imetame will be the operator of the Lagoa Parda fields.

Both companies will implement a work program to increase production to 580 barrels of oil per day already in the first year of operations. Based on combined seismic data and Petrobras’s operational data, it is believed that the Lagoa Parda Fields contain significant high-risk, low-impact drilling and exploration opportunities.

Richard F. Gonzalez, CEO of Petro-Victory commented: “We are very pleased to expand our successful partnership in the Espírito Santo Basin with our operating partner, Imetame Energia. With the purchase of the Lagoa Parda Field, Petro-Victory and Imetame Energia now hold a total of 8 licenses in a 50-50 partnership.”

“The Lagoa Parda Fields significantly expand Petro-Victory’s portfolio of oil production assets in the Espírito Santo Basin, accelerating our growth in onshore production, cash flow, and profitability”, Gonzalez added.

About Petro-Victory Energy

Petro-Victory Energy is involved in the acquisition, development, and production of oil and natural gas resources in Brazil and worldwide. The company has operational and working interests in 25 licenses across four different producing basins in our country and creates added value for shareholders through disciplined investments in high-impact, low-risk assets.

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Paulo Nogueira

Eletrotécnica formado em umas das instituições de ensino técnico do país, o Instituto Federal Fluminense - IFF ( Antigo CEFET), atuei diversos anos na áreas de petróleo e gás offshore, energia e construção. Hoje com mais de 8 mil publicações em revistas e blogs online sobre o setor de energia, o foco é prover informações em tempo real do mercado de empregabilidade do Brasil, macro e micro economia e empreendedorismo. Para dúvidas, sugestões e correções, entre em contato no e-mail informe@en.clickpetroleoegas.com.br. Vale lembrar que não aceitamos currículos neste contato.

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