The transfer of maritime concessions at the Golfinho and Camarupim Hubs from Petrobras to BW Energy marks a strategic move aimed at optimizing assets and greater concentration on the company's outstanding operations. This also highlights the continued evolution of the energy and exploration sector in Brazil.

Petrobras announced this past Monday, (28/08), the successful transfer of its stake in the Polo Golfinho and Polo Camarupim maritime concessions, located in the Espírito Santo Basin, to BW Energy Maromba do Brasil Ltda (BWE) . The completion of this deal marks a significant step in Petrobras' strategy to optimize its assets and focus on strategic areas.

US$12,2 million deal solidifies BWE's deepwater position in the Espírito Santo Basin

After fulfilling the contractual conditions, stipulated in the binding contracts signed in June 2022, Petrobras transferred these concessions to BWE.

The amount of the transaction totaled US$ 12,2 million, of which US$ 3 million had already been paid when the contract was signed.

Petrobras could still receive up to US$60 million in contingent payments, subject to future Brent oil prices and asset development.

With this transfer, BWE assumes the position of operator of the maritime concessions that comprise the Poles Golfinho and Camarupim.

The Polo Golfinho encompasses non-associated oil and gas production fields, located in water depths between 1.300 m and 2.200 m.

Meanwhile, the Camarupim Complex, located in water depths between 100 m and 1.050 m, comprises unitized non-associated gas fields.

Assignment does not affect Petrobras' commitments in Espírito Santo and BWE assumes operation of offshore fields

The transfer of these fields does not affect Petrobras' other operations in the region, including the important Parque das Baleias and six exploratory areas in deep waters.

The company reiterated its investment commitment in the state of Espírito Santo, emphasizing the implementation of the production unit in Campo de Jubarte (FPSO Maria Quitéria) and the interconnection of new wells, aiming to increase its production until 2027.

The transaction follows Petrobras' internal guidelines and the special procedure for the assignment of hydrocarbon exploration, development and production rights, pursuant to Decree 9.355/2018.

The company continues to maintain its operations in other sectors of the state, including natural gas processing units and the Barra do Riacho Waterway Terminal.

About BWE

It is worth noting that it is a wholly owned subsidiary of BW Energy Ltd., an exploration and production (E&P) company that focuses on low-risk oil reservoirs, aiming for a phased development and leveraging existing production facilities.