Petrobras Makes Final Decision and Puts 28 More Oil Fields Up for Sale in Bahia to Focus on Pre-Salt in the Southeast

Written by Valdemar Medeiros

Published on 04/11/2020 at 10:51

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Petrobras Sells Another 28 Oil Fields in Bahia, The Company Claims It Will Focus on the Pre-Salt in the Southeast Region

On Wednesday morning, the market leader in oil – Petrobras announced through its press release the sale of another 28 oil fields in Bahia with the goal of focusing on the pre-salt in the southeast region.

28 Oil Fields Sold

Petrobras began on Wednesday morning (04) the release of the sales teaser for the 28 oil fields, the onshore fields are located in the Recôncavo and Tucano basins.

Petrobras states that the sale of the 28 oil fields located in Bahia is part of its strategy to align the portfolio and further centralize investments in the Southeast’s Pre-salt, where the company has proven to be competitive over the years.

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Bahia Terra Hub

According to Petrobras, the hub has about 1,700 wells in operation, 19 collection stations, 12 collection points, 2 oil treatment stations, 6 collection and compression stations, 4 water injection stations, approximately 980 kilometers of gas and oil pipelines, in addition to the administrative bases of Taquipe, Santiago, Buracica, Araçás and Fazenda.

The average production of the Hub from January to August 2020 reached records of over 14,000 barrels of oil per day and 642,000 m3/day of gas. The market leader Petrobras has 100% participation in these oil fields and claims that the Southeast’s Pre-salt will become even larger with investments in ultra-deep waters.

Petrobras Accelerates Asset Sales

Between January 2019 and July 2020, Petrobras opened 48 asset sale processes to focus on the Pre-salt, an average of 2.5 per month. The number is much higher than the 1.4 per month opened during the Michel Temer government and eight times the 0.4 per month recorded during Dilma Rousseff’s second term.

The statistic, compiled by Dieese (Inter-Union Department of Statistics and Socioeconomic Studies), reflects the main strategic change in the company under the leadership of economist Roberto Castello Branco, appointed by President Jair Bolsonaro to lead the state-owned company.

Petrobras Makes Final Decision and Puts 28 More Oil Fields Up for Sale in Bahia to Focus on Pre-Salt in the Southeast

Petrobras Sells Another 28 Oil Fields in Bahia, The Company Claims It Will Focus on the Pre-Salt in the Southeast Region

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Petrobras Makes Final Decision and Puts 28 More Oil Fields Up for Sale in Bahia to Focus on Pre-Salt in the Southeast

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