Petrobras Signs Agreement to Sell Uruguá and Tambaú Areas to Enauta: Check Out the Details!

Written by Paulo Nogueira

Published on 22/12/2023 at 01:30

O FPSO Cidade de São Paulo produz nos campos de Tambaú e Uruguá. na Bacia de Santos (Foto: Cortesia PAC) – Todos os direitos: EPBR

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Sale of Uruguá and Tambaú Closed with Enauta for US$ 35M Includes 100% of the Concessions, FPSO Cidade de Santos and Charter Contract.

Petrobras Reached an Agreement with Enauta This Thursday (12/21) for the Sale of the Uruguá and Tambaú Fields, in Deep Waters in the Pre-Salt, Located in the Santos Basin. The Transaction Was Concluded for US$ 35 Million and Involves 100% of the Concessions.

The state-owned company Also Agreed to Extend the charter contract for the FPSO Cidade de Santos with Modec, Expected to End in January 2024. The Unit is Installed in Water Depth of Approximately 1,300 Meters and Has a Production Capacity of 25,000 Barrels of Oil and 10 Million Cubic Meters Per Day of Natural Gas. Petrobras Continues to Invest in Strategic Measures to Optimize Its Assets.

Petrobras and Strategic Divestment

The divestment was initiated in September 2021, Still During the Government of Jair Bolsonaro. President Lula is Opposed to the Sale of Petrobras Assets.

ARTICLE CONTINUES BELOW

Petrobras’ Strategy in Asset Sales

In a Statement Released Today, Petrobras Stated that the Decision to Sell is the Result of ‘an Active Portfolio Management Process’. According to the State-Owned Company, the Fields Currently Represent Less than 1% of the Production Operated by the Company in the Santos Basin and, Therefore, Have Low Strategic Relevance to the Portfolio.

Production of the Uruguá and Tambaú Fields

From January to September 2023, Uruguá and Tambaú Produced 5,400 Barrels/Day of Oil and 353,000 m³/Day of Gas, on Average.

Alternative to Decommissioning

‘The Transfer of Assets to a New Operator Represents an Alternative to Decommissioning, with the Potential to Extend Its Productive Life, While Allowing Petrobras to Direct Its Investments in the E&P Segment to Assets More Aligned with the Company’s Strategy, Which Involves, Among Other Things, the Growing Decarbonization of Operations’, the Company Said in a Statement.

Financial Details of the Transaction

Of the Total Value of the Operation, US$ 3 Million Were Paid by Enauta Today and US$ 7 Million Will Be Paid Upon Closing the Transaction. Another US$ 25 Million Relate to Contingent Payments, Which Depend on Future Brent Quotes and Events Related to the Development of the Assets.

Source: EPBR

Petrobras Signs Agreement to Sell Uruguá and Tambaú Areas to Enauta: Check Out the Details!

Sale of Uruguá and Tambaú Closed with Enauta for US$ 35M Includes 100% of the Concessions, FPSO Cidade de Santos and Charter Contract.

Petrobras and Strategic Divestment

Petrobras’ Strategy in Asset Sales

Production of the Uruguá and Tambaú Fields

Alternative to Decommissioning

Financial Details of the Transaction

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Petrobras Signs Agreement to Sell Uruguá and Tambaú Areas to Enauta: Check Out the Details!

Sale of Uruguá and Tambaú Closed with Enauta for US$ 35M Includes 100% of the Concessions, FPSO Cidade de Santos and Charter Contract.

Petrobras and Strategic Divestment

Petrobras’ Strategy in Asset Sales

Production of the Uruguá and Tambaú Fields

Alternative to Decommissioning

Financial Details of the Transaction

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Australia prepares to dredge 96.5 million m³ in Moreton Bay to deepen, widen, and realign channels of the Port of Brisbane, in a project of up to 25 years designed to accommodate larger ships and enhance maritime safety and regional port efficiency.

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