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A consortium led by Aguila Energy submitted the best proposal for the onshore exploration area, Polo Bahia Terra, of Petrobras
Petrobras announced this Thursday (10/14) that it received binding offers from potential interested parties for the acquisition of onshore production fields located in the Recôncavo and Tucano Basins in the state of Bahia, collectively called Polo Bahia Terra. A consortium led by Aguila Energy submitted the best proposal for Petrobras’ Polo Bahia Terra, valued at over US$ 1.5 billion. Read this news as well: For US$ 300 million, Petrobras sells its stake in onshore and shallow water fields to Petro+ in the state of Alagoas
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Offers for the Onshore Field in the State of Bahia
The consortium formed by Aguila Energia and Participações Ltda and Infra Construtora e Serviços Ltda submitted the best proposal, valued at over US$ 1.5 billion, with Petrobras’ Executive Board approving the start of the negotiation phase.
In a statement sent to the Comissão de Valores Mobiliários (CVM), Petrobras clarifies that the completion of the transaction will depend on the outcome of negotiations, as well as the necessary corporate approvals. “Petrobras reinforces its commitment to the broad transparency of its divestment projects and portfolio management, and informs that the subsequent stages of the project will be promptly disclosed,” it states.
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About Petrobras’ Onshore Polo
Polo Bahia Terra encompasses 28 onshore production concessions located in different municipalities in the state. Petrobras’ divestment process also includes gathering and treatment stations, oil storage and movement parks, gas pipelines, and oil pipelines, as well as the Catu UPGN and other infrastructures associated with the production process.
The oil produced in the onshore field is of great commercial interest to RLAM (Landulpho Alves Refinery), recently sold to the Mubadala Fund, as it makes up the “Baiano Mistura” portion in the refinery’s feedstock.
Also check this news: Petrobras starts the sale process for the onshore field in the Potiguar Basin in Rio Grande do Norte
Petrobras released a note informing that following the announcement made on July 9, 2021, the state-owned company has started the binding phase regarding the sale, in conjunction with Sonangol Hidrocarbonetos Brasil, of the total stake of both companies in the onshore exploratory block (onshore) POT-T-794, belonging to concession BT-POT-55A, located in the Potiguar Basin in the state of Rio Grande do Norte.
Potential buyers qualified for this phase will receive an invitation letter with instructions regarding the divestment process, including guidelines for conducting due diligence and submitting binding proposals. This disclosure is in accordance with Petrobras’ internal regulations 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 foreseen in Decree 9.355/2018.
The onshore field concession in the Potiguar Basin was acquired in 2006 during the 7th Round of Block Bidding held by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Petrobras holds a 70% stake in the onshore field in Rio Grande do Norte, while Sonangol, the operator of the concession, holds the remaining 30% stake. The consortium between Petrobras and Sonangol drilled two wells in the onshore field, one of which was a gas discovery well.
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