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The Operation Is Part of a Broad Divestment Program by Petrobras in the Exploratory Pre-Salt Area Involving the So-Called Oil Block in Colombia
Petrobras informs that it has started the opportunity disclosure stage regarding the sale of its entire stake in the exploratory pre-salt oil area in the Guajira Basin, Colombia. Naval Construction in Brazil: Detroit Shipyard in Itajaí, Santa Catarina Launches Unique Vessel to Transport Live Fish
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The operation, which is part of a broad divestment program by Petrobras, involves the exploratory pre-salt area known as the Tayrona Oil Block in deep waters off the northeast coast of Colombia.
The teaser, which contains the main information about the opportunity as well as the eligibility criteria for selecting potential participants, is available on Petrobras’ Investor Relations website.
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The announcement is in accordance with Petrobras’ divestment guidelines and the provisions of the special procedure for the assignment of exploration, development, and production rights for oil, natural gas, and other fluid hydrocarbons, as provided in Decree 9,355/2018.
According to the state-owned company, the operation is aligned with the strategy of optimizing the portfolio and improving the company’s capital allocation, “increasingly concentrating its resources in deep and ultra-deep waters, where Petrobras has demonstrated a significant competitive edge over the years.”
About the Tayrona Oil Block for Sale by Petrobras
Petrobras is the operator of the area, with a 44.44% stake in the concession through its affiliate PIB-BV, which is a partner of Ecopetrol in the asset.
Ecopetrol may exercise its right of first refusal for Petrobras’ stake in the asset, as provided in the agreement between the parties, the Brazilian state-owned company added. According to the company, the concession is in a subsequent exploratory program and has “potential to demonstrate significant volumes of gas.”
The concession is currently in the Subsequent Exploratory Program 1 (PEP1) phase and has a reduced exploratory commitment to be fulfilled, with potential to demonstrate significant volumes of gas (world-class prospects) and establish a position in a new frontier area. The area shows similarities to discoveries along the margins of the South Atlantic and Caribbean.
