English 
Spanish 
3 min read
0 comments
Petrobras (PETR4) closes an agreement to sell all of the Uruguá and Tambaú fields to Enauta (ENAT3), for up to US$35 million. Brent agreements, contracts and future quotes.
Petrobras (PETR4) concluded negotiations this Thursday (21) by signing a sales agreement with Enauta (ENAT3) regarding the Uruguá and Tambaú fields in the Santos Basin. The total transaction value could reach $35 million, with $3 million paid today and $7 million at closing, plus up to $25 million in contingent payments. The fields represent less than 1% of the production operated by Petrobras in the Santos Basin, which justifies the disinvestment given the low adherence strategy they present.
The divestment allows Petrobras to direct resources to assets more aligned with its strategy, including the increasing decarbonization of operations. Furthermore, the company informed that the employees involved in operating the fields will be reallocated to other company operations in the Santos Basin business unit itself. The BS-500 concession, where the fields are located, was acquired through the ANP's Round Zero and is located in the northern portion of the Santos Basin, between 140 and 160km off the coast of the state of Rio de Janeiro.
Petrobras negotiation for divestment of the Uruguá and Tambaú fields
Petrobras' negotiations for the divestment of the Uruguá and Tambaú fields are ongoing, with the company seeking a agreement for the transaction. The sale of these assets is part of Petrobras' strategy of disposing of certain non-essential assets, aiming to reduce its debt and focus on areas of higher return. You contracts for the charter of platforms operating in these fields are close to closure, and Petrobras seeks to negotiate the decommissioning of the units and all related operations.
- Shocking Strike: DOF Offshore Workers Go On Strike, Stop 15 Vessels — Oil and Gas Sector on Alert!
- Fuel prices at refineries have been adjusted again by Petrobras and should have an impact on consumers' pockets
- End of Bolivian natural gas exports to Argentina benefits Mato Grosso do Sul and boosts state revenue
- Oil falls after two sessions of strong gains as market monitors Middle East and US hurricane
During the negotiation process, Petrobras has closely monitored the Brent futures quotes, as the company seeks to ensure that the terms of the agreement are advantageous in relation to market projections. Furthermore, the company considers events related to the development of assets, as well as strategic statements that may impact negotiations.
This negotiation has also generated interest in the financial markets, with investors closely following the movements of the international scholarships in relation to disinvestments from Petrobras. Investments in the North American scenario have been especially relevant, given the growing importance of decarbonizing operations and the strategic relevance of the assets in question.
The negotiation of the Uruguá and Tambaú fields is part of Petrobras' zero round of divestments, which aims to reduce its operations in deeper waters and focus on areas with lower water depths. The company is committed to its divestment plan, which includes a broad asset negotiation process throughout Brazil, aiming for a more efficient allocation of capital and resources.
Source: moneytimes
