Petrobras Authorized to Sell Oil and Gas Assets Without Bidding Process

Written by Kelly

Published on 05/09/2020 at 10:04

Plataforma de petróleo e gás offshore/Imagem: Divulgação

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Measure Was Determined by the STF Which Maintains Decree Issued During Michel Temer’s Government in 2018 That Enables the Sale of Petrobras Oil and Gas Blocks Without Bidding

Petrobras was granted a measure that could boost its divestment plan. This Friday (05), through a virtual judgment, the Federal Supreme Court (STF) ruled that the state company can now sell its oil and gas blocks by waiving the bidding process. The STF’s decision represents a significant achievement for the Bolsonaro government.

Petrobras’ Divestment Drives Entry of New Oil and Gas Operators in the Espírito Santo Basin

The state of Espírito Santo has been one of the biggest beneficiaries of Petrobras’ divestment plans. The expectation is that the arrival of new companies will generate jobs and income in the region. At the end of last month, Petrobras closed a US$ 155 million deal with Karavan SPE Cricaré, a partnership between Karavan and Seacrest, for participation in 27 E&P areas located in the onshore area of the Espírito Santo basin.

The expectation is that the new operator will seize exploration opportunities in oil and gas fields to increase production. The sale is part of Petrobras’ asset sale program of US$ 20-30 billion for 2020-24. Learn More Here.

Petrobras Authorized to Sell Oil and Gas Assets Without Bidding Process

Measure Was Determined by the STF Which Maintains Decree Issued During Michel Temer’s Government in 2018 That Enables the Sale of Petrobras Oil and Gas Blocks Without Bidding

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Petrobras’ Divestment Drives Entry of New Oil and Gas Operators in the Espírito Santo Basin

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Petrobras Authorized to Sell Oil and Gas Assets Without Bidding Process

Measure Was Determined by the STF Which Maintains Decree Issued During Michel Temer’s Government in 2018 That Enables the Sale of Petrobras Oil and Gas Blocks Without Bidding

See Also Other News

Petrobras’ Divestment Drives Entry of New Oil and Gas Operators in the Espírito Santo Basin

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Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

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Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

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