Petrobras Receives Offer Exceeding $1 Billion for Enchova and Pampo Clusters in the Campos Basin

Written by Paulo Nogueira

Published on 14/06/2019 at 01:00

Updated on 13/06/2019 at 20:29

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Petrobras Highlighted That Receiving Final Bids Is A Step In The Competitive Process And That The Transaction Will Still Be Submitted For Approval

Continuing With Its Divestment Plan, Petrobras informed this Thursday, 13, that on June 5 it received final bids of over US$1 billion, considering firm and contingent payments, for the sale of the shallow water fields Enchova and Pampo, located in the Campos Basin.

The company had been questioned on May 30 by the Brazilian Securities and Exchange Commission (CVM), after the publication of reports about the bids. At the time, the company confirmed that negotiations were in the final phase.

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The company emphasized that receiving final bids is a step in the competitive process and that the transaction will still be submitted for approval by the competent bodies of Petrobras.

“The receipt of final bids for the divestment project is a step in the competitive process conducted according to the company’s Divestment System, aligned with the provisions of the special procedure for the assignment of exploration, development, and production rights of oil, natural gas, and other fluid hydrocarbons, as provided in Decree 9.355/2018,” the note concludes.

Rio de Janeiro Will Be The Largest Oil Producer In The Americas, Says Petrobras President

In a hearing at the Mines and Energy Commission of the Chamber, this Tuesday, Petrobras President Roberto Castello Branco stated that Rio de Janeiro has a “unique opportunity” to recover its economy through the oil market. He also emphasized, however, that it is necessary to know how to utilize these resources.

“I believe that the state of Rio de Janeiro has a unique opportunity to emerge from the deep recession it has found itself in. I told Governor Wilson Witzel that he will become a sheikh of oil. Rio de Janeiro will be the largest oil producer in the Americas, surpassed only by the United States and Canada. There will be jobs, not just for oil producers, but for suppliers, generation of revenue, royalties, and special participations. It will benefit greatly. Resources must be used wisely, for the development of the economy of the state of Rio de Janeiro,” said Castello Branco.

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Petrobras Receives Offer Exceeding $1 Billion for Enchova and Pampo Clusters in the Campos Basin

Petrobras Highlighted That Receiving Final Bids Is A Step In The Competitive Process And That The Transaction Will Still Be Submitted For Approval

Rio de Janeiro Will Be The Largest Oil Producer In The Americas, Says Petrobras President

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