Petrobras Announced This Morning (March 19) The Sale of 28 Onshore Oil Fields Located in The State of Bahia

Another 28 Oil Fields Sold by Petrobras in Bahia, the Oil Company States It Will Focus on Pre-Salt in the Southeast Region

Petrobras announced in a relevant fact this morning (03/19) the sale of its entire stake in 28 onshore oil fields, located in the Recôncavo and Tucano Basins, in different municipalities of the state of Bahia, collectively referred to as Polo Bahia Terra. Looking for a job? Jobs for incomplete elementary education to work at Petrobras’ largest onshore logistics operator

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The 28 onshore fields for sale by Petrobras in Bahia have integrated facilities and access to processing, logistics, storage, transportation, and oil and natural gas offloading infrastructure. The state-owned company had initiated the divestment process at the end of last year when it conducted the opportunity disclosure stage.

Petrobras also informs that the concessions related to the Recôncavo and Miranga Poles were not included in the transfer process of Polo Bahia Terra, as the respective sale contracts were signed on 12/17/2020 and 02/24/2021, as disclosed to the market at the time.

“Qualified potential buyers for this phase will receive an invitation letter with detailed instructions about the divestment process, including guidance for conducting due diligence and for submitting binding proposals,” said Petrobras in the statement.

This operation is aligned with the strategy of portfolio optimization and improved capital allocation of the company, 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 Polo Bahia Terra for Sale by Petrobras

The Polo Bahia Terra has about 1,700 oil wells in operation, as well as collecting and treatment stations, oil storage and movement parks, gas pipelines, and oil pipelines, and other associated infrastructures, said the oil company, which is the operator of the fields with 100% participation.

In January and February 2021, the assets in the Polo Bahia Terra had an average production of 13,500 barrels of oil per day and 660,000 m3/day of gas.