Petrobras Currently Has A High Debt Profile – Of US$ 86 Billion – So, In Addition To Reducing This Debt, The Company Needs To Raise Resources For Investment In Exploration And Production.
In parallel to President Jair Bolsonaro’s visit to the Emirates, Roberto Ardenghy, Director of Institutional Relations at Petrobras, participated in a Brazil business seminar this Sunday, 27, in Abu Dhabi, where he reported that the state oil company is looking for clients for its refineries and partners for bidding in Gulf countries. The Oil Market Is Heating Up And 400,000 Jobs Are Already Expected To Be Created.
“We Came To Showcase Our Assets For Sale And Partnership Opportunities,” Ardenghy Told ANBA. According To Ardenghy, The State Company Is Seeking Partners To Integrate Consortia With The Purpose Of Competing In Upcoming Oil And Gas Exploration And Production Bids That Will Occur In Brazil.
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“There Is A Great Interest In Refining Here,” He Stated. According To Him, Petrobras Accounts For 98% Of Refining In Brazil And Wants To Sell Half Of Its Assets In This Area. These Are Refineries In Rio Grande Do Sul, Paraná, Minas Gerais, Bahia, Rio Grande Do Norte, Ceará, And Amazonas.
According To The Executive, There Is Interest From Investors In The Gulf Region. “There Is Interest And I Came [Here] To Reinforce This. They Have A Lot Of Experience In The Refining Area,” He Added That Brazil Is Attractive Because It Is The Fifth Largest Refining Market In The World.
The Executive States That Petrobras Will Have Two Investment Options, One Will Occur On November 6, Being “The Largest Round” Of Auctions For The Excess From The Transfer Of Areas In The Pre-Salt Layer, When Four “Giant” Fields Will Be Offered, And The Other Opportunity Will Occur The Following Day, 07, Which Will Be The 6th Round Of Auctions For The Pre-Salt Under The Production Sharing Model, Organized By ANP.
In The First Case, Ardenghy States That 14 Companies Are Already Qualified To Participate, And In The Last, There Are 17 Companies Qualified. He Confirmed That There Are Ongoing Talks With Gulf Companies About Forming Consortia And Added That The Company Wants Resources To Focus On What He Called “The Largest Mineral Province In The World” Currently, Which Is The Pre-Salt Layer.
“There Are Wells [In The Pre-Salt] Producing 58,000 Barrels Per Day, Only In The Middle East Is More Produced. The Average Production Of The Wells Is 17,000 Barrels Daily,” He Stated.
Investors From The Emirates Were Invited During The Seminar To Participate In The Pre-Salt Auction On November 6 By President Jair Bolsonaro And The Minister Of The Civil House, Onyx Lorenzoni. “In The Coming Days We Will Have One Of The Largest Pre-Salt Auctions In Our Country And We Invite Everyone To Participate,” The President Declared. Lorenzoni Described The Auction As “The Largest Western Oil And Gas Auction.”
From The Region, Qatar Petroleum Has Already Won Four Bids For Oil Exploration And Production Held In Brazil, In Partnership With Other Companies.
The Executive Also Mentioned That Petrobras Currently Has A High Debt Profile – Of US$ 86 Billion – So, In Addition To Reducing This Debt, The Company Needs To Raise Resources For Investment In Exploration And Production. To This End, It Is Promoting “A Strong Cost-Cutting Process” And “Divestments,” Or The Sale Of Assets.
This Year, So Far, The Company Has Raised US$ 13.3 Billion In “Divestments,” And Expects To Reach US$ 15 Billion By The End Of 2019.
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