Petrobras Sells Entire Stake in Brazil-Bolivia Gas Pipelines and TSB

Petrobras Informs That the Sale of the Brazil-Bolivia and TSB Pipelines Is Aligned With the Company’s Portfolio Optimization Strategy

Petrobras announced in a relevant fact last night (06/02) that it has begun the sale of its entire holdings of 51% in Transportadora Brasileira Gasoduto Bolívia-Brasil (TBG) and 25% in Transportadora Sulbrasileira de Gás (TSB). Take the opportunity to qualify yourself, The American Giant of Online Services Google Opens 2000 Positions in Free Courses in Technology

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“Qualified potential buyers for this phase will receive a descriptive memorandum containing more detailed information about the companies in question, as well as instructions on the divestment process, including guidelines for preparing and submitting non-binding proposals,” says Petrobras’ statement

In the statement, Petrobras informs that the operation is aligned with the portfolio optimization strategy and the improvement of the company’s capital allocation, increasingly focusing its resources on world-class assets in deep and ultra-deep waters

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About TBG and TSB – Petrobras

TBG is a company that operates in the transportation of natural gas and is present in the main economic axis of Brazil, in the Midwest, Southeast, and South regions, being the owner and operator of the Bolivia-Brazil gas pipeline in Brazilian territory.

Its pipeline extends for 2,593 km, with a transportation capacity of up to 30 million m3/day along the pipeline and an additional 5.2 million m3/day in the section in São Paulo.

TSB is located in Rio Grande do Sul, with 50 km of pipelines already installed and a project for an additional 565 km that, once completed, will allow the connection of production fields in Argentina to the metropolitan region of Porto Alegre and the TBG pipeline.

Petrobras Completes the Sale of the Frade Field

Petrobras had informed about the sale of the Frade field in November 2019, announced this Friday that it has completed the sale of its 30% stake in the land located in the Campos Basin, northern coast of the state of Rio de Janeiro. The sale was made to PetroRio, which holds the remaining 70%.

The transaction also included the sale of the entirety of the stake held by Petrobras Frade, a subsidiary of Petrobras, in the company Frade BV to Petrorio Luxembourg, which now holds 100% of Frade BV.

After fulfilling the precedent conditions, the operation was completed with the payment of US$ 36 million to Petrobras. This amount adds to the US$ 7.5 million paid to Petrobras upon signing the sale contract.

The amounts paid to Petrobras yesterday and at signing, combined with the profit obtained, total US$ 100 million, as previously disclosed. In addition, there is the amount of US$ 20 million contingent on a potential new commercial discovery in the field, which, if it occurs in the future, Petrobras will have the right to receive.