Petrobras Sells Stake in Exploratory Blocks in the Espírito Santo Basin

Written by Flavia Marinho

Published on 02/06/2020 at 11:15

Updated on 02/06/2020 at 11:31

Petrobras põe a venda participação em blocos exploratórios na Bacia do Espírito Santo

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The Oil Blocks for Sale by Petrobras Belong to the Concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11, and ES-M-743_R11

Petrobras announced last night (01), the teaser regarding the sale of part of its participation in the exploratory blocks in the Espírito Santo Basin. Also yesterday, the state-owned company announced the progress of the process to sell oil fields in the Camamu Basin, Bahia

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The oil blocks belong to the concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11, and ES-M-743_R11,

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About Petrobras’ Concessions and Participation in the Exploratory Blocks

The concessions for the exploratory blocks ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11, and ES-M-743_R11 were acquired in the 11th Bidding Round by ANP in 2013 and are currently in the 1st Exploratory Period.

Check below Petrobras’ current participation in the concessions

ES-M-596_R11 Petrobras (50%) – operator; Equinor (50%)
ES-M-598_R11 Petrobras (40%); Equinor (40%) – operator; Enauta (20%)
ES-M-671_R11 Petrobras (40%); Equinor (35%) – operator; Total (25%)
ES-M-673_R11 Petrobras (40%); Equinor (40%) – operator; Enauta (20%)
ES-M-743_R11 Petrobras (40%); Equinor (35%) – operator; Total (25%)

The process for the transfer of Equinor’s stakes to Petrobras is underway before CADE and ANP, with the consequent transfer of operations, and Total’s, with an expected completion in the second half of 2020.

Check below a summary of the concessions and the total divestment percentage of Petrobras after the completion of the processes before the regulatory agencies

ES-M-596_R11 100 to 50
ES-M-598_R11 80 to 40
ES-M-671_R11 100 to 50
ES-M-673_R11 80 to 40
ES-M-743_R11 100 to 50

According to Petrobras, the concessions are strategically positioned in relation to the post-salt discoveries in areas known as Parque dos Deuses, Parque dos Doces, and Parque dos Cachorros, in the Espírito Santo Basin, with the potential to prove significant volumes and establish a position in a new exploratory frontier for both pre-salt and post-salt.

The teaser, which contains the main information about the opportunity, as well as the eligibility criteria for selecting potential participants, is available on Petrobras’ website

Petrobras Sells Stake in Exploratory Blocks in the Espírito Santo Basin

The Oil Blocks for Sale by Petrobras Belong to the Concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11, and ES-M-743_R11

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About Petrobras’ Concessions and Participation in the Exploratory Blocks

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Petrobras Sells Stake in Exploratory Blocks in the Espírito Santo Basin

The Oil Blocks for Sale by Petrobras Belong to the Concessions ES-M-596_R11, ES-M-598_R11, ES-M-671_R11, ES-M-673_R11, and ES-M-743_R11

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