Petrobras Starts Sale of 8 Onshore Fields in Bahia

Petrobras Announced Start of Non-Binding Phase for Sale of Entire Stake in Onshore Fields of the So-Called Rio Ventura Cluster.

Petrobras announced on Tuesday, June 25, that it has moved to the so-called non-binding phase of the process for the sale of all its stakes. There are eight exploration and production concessions in Bahia. At this stage, interested parties will have access to a virtual data room with additional information.

This stage follows the “teaser,” opened on June 3, where Petrobras is the operator with 100% participation.The average total production in the Rio Ventura Cluster is 1,500 bpd of oil and 43,000 m3/day of gas, as previously disclosed.

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The Concessions Are

• Água Grande
• Bonsucesso
• Fazenda Alto das Pedras
• Pedrinhas
• Pojuca
• Rio Pojuca
• Tapiranga
• Tapiranga Norte

According to the state company, interested parties classified for the non-binding phase will receive instructions on the divestment process, including guidance for preparing and submitting proposals and access to additional information about the cluster.

Companies interested in acquiring the concessions will also have access to a virtual information room about the Rio Ventura Cluster before submitting non-binding offers.

According to Petrobras, the operation is aligned with its goal to optimize the portfolio and improve capital allocation, aiming to generate value for shareholders.

Minister Asserts That Oil and Gas Auctions Could Raise R$ 106 Billion

Although anticipated for 2019, the 16th ANP Auction Round was not mentioned. According to Freitas, the government has already held 23 concession auctions by April. This was one of the goals proposed by the Jair Bolsonaro government. The federal government postponed the date of the mega oil auction from the pre-salt to November 6.

The minister also emphasized that investment in infrastructure debentures has never been higher. According to his statements, the government issued R$ 2.3 billion in infrastructure debentures this year. “We issued more debentures than last year. We issued debentures for R$ 5 billion in investments, and R$ 2.3 billion has already been authorized,” the engineer stated.