Petrobras Completes Sale of 4 Onshore Fields in Bahia to Eagle Oil and Gas Exploration

Written by Flavia Marinho

Published on 10/12/2020 at 09:16

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The Onshore Fields in Bahia Sold to Eagle Oil and Gas by Petrobras Are Named Conceição, Quererá, Fazenda Matinha, and Fazenda Santa Rosa

Petrobras announced yesterday (12/9) in a relevant fact that it finalized today the sale of 100% of its interests in four onshore fields, located in the Tucano Basin, in the interior of the state of Bahia, to Eagle Oil and Gas Exploration Ltda (Eagle). Infotec Brazil Signs Another Contract with Petrobras

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According to the report released by the oil company, the operation was completed with a payment of US$ 2.571 million to Petrobras, already including the adjustments provided in the contract.

The amount received, the company adds, is in addition to the US$ 602 thousand paid at the signing of the sales contract, totaling US$ 3.173 million.

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“This disclosure is in accordance with Petrobras’ internal regulations and the provisions of the special procedure for the transfer of exploration, development, and production rights for oil and natural gas”, says Petrobras in the statement.

The state-owned company informs that this disclosure is in line with the company’s disinvestment guidelines and that this operation is aligned with optimizing the portfolio and improving capital allocation, increasingly concentrating its resources on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated a significant competitive advantage over the years.

About the Onshore Fields in Bahia

The onshore fields named Conceição, Quererá, Fazenda Matinha, and Fazenda Santa Rosa are located about 110 km from the city of Salvador.

In 2019, the average production of these fields was about 26 boe/day of gas, with no oil production. After the completion of the sale, Eagle will hold a 100% interest in these concessions.

About Eagle

Eagle Eagle is a Brazilian oil and gas company and is the E&P arm of the CKL Group, which has a business portfolio across the country in the areas of infrastructure, electromechanical works, road concessions, real estate, energy, and sanitation.

Petrobras Completes Sale of 4 Onshore Fields in Bahia to Eagle Oil and Gas Exploration

The Onshore Fields in Bahia Sold to Eagle Oil and Gas by Petrobras Are Named Conceição, Quererá, Fazenda Matinha, and Fazenda Santa Rosa

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Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

About the Onshore Fields in Bahia

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Petrobras Completes Sale of 4 Onshore Fields in Bahia to Eagle Oil and Gas Exploration

The Onshore Fields in Bahia Sold to Eagle Oil and Gas by Petrobras Are Named Conceição, Quererá, Fazenda Matinha, and Fazenda Santa Rosa

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