Petrobras Announces Sale of 27 Onshore Fields in Espírito Santo

Written by Paulo Nogueira

Published on 27/05/2019 at 13:32

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Petrobras Announced This Monday Morning, 27, That It Has Started the Disclosure Stage of the Opportunity (Teaser) Regarding the Transfer of Its Entire Holdings in 27 Mature Onshore Fields Located in Espírito Santo.

Petrobras has started to inform investors about the process for the sale of its entire stake in 27 mature onshore oil fields, including the shared production flow and treatment facilities, located in Espírito Santo, in the municipalities of São Mateus, Jaguaré, Linhares, and Conceição da Barra, collectively referred to as Polo Cricaré. According to the company, the fields for sale had an average total production of about 2,800 barrels per day in 2018.

Petrobras is the operator and owns 100% of all assets, which include the fields of Biguá, Cacimbas, Campo Grande, Córrego Cedro Norte, Córrego Cedro Norte Sul, Córrego Dourado, Córrego das Pedras, Fazenda Cedro, Fazenda Cedro Norte, Fazenda Queimadas, Fazenda São Jorge, Guriri, Inhambu, Jacutinga, Lagoa Bonita, Lagoa Suruaca, Mariricu, Mariricu Norte, Rio Itaúnas, Rio Preto, Rio Preto Oeste, Rio Preto Sul, Rio São Mateus, São Mateus, São Mateus Leste, Seriema, and Tabuiaiá.

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NINE FIELDS IN THE NORTHEAST

A consortium formed by the investment firm Starboard Restructuring Partners and the startup 3R Petroleum is in exclusive negotiations with Petrobras for the acquisition of nine onshore oil fields in the Northeast for about 1 billion reais, according to two sources familiar with the matter.

The move comes as the state-owned company seeks to aggressively reduce its stakes in mature oil fields, aiming to decrease debts and focus on the pre-salt. The current president of Petrobras, Roberto Castello Branco, has made the exit from the onshore segment a priority, in which production has drastically fallen in recent years.

One of the sources stated that Starboard is in negotiations with Petrobras to acquire the Macau and Fazenda Belém groups, which consist of seven and two oil fields, respectively. Combined, these assets produce about 5,000 barrels per day (bpd) of oil, according to the document seen by Reuters.

Check out the 1st transshipment operation conducted by Petrobras on May 24 and 25 at the Açu Petróleo Oil Terminal (T-OIL).

Petrobras Announces Sale of 27 Onshore Fields in Espírito Santo

Petrobras Announced This Monday Morning, 27, That It Has Started the Disclosure Stage of the Opportunity (Teaser) Regarding the Transfer of Its Entire Holdings in 27 Mature Onshore Fields Located in Espírito Santo.

NINE FIELDS IN THE NORTHEAST

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Petrobras Announces Sale of 27 Onshore Fields in Espírito Santo

Petrobras Announced This Monday Morning, 27, That It Has Started the Disclosure Stage of the Opportunity (Teaser) Regarding the Transfer of Its Entire Holdings in 27 Mature Onshore Fields Located in Espírito Santo.

NINE FIELDS IN THE NORTHEAST

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