The 34 Petrobras oil fields sold to PetroRecôncavo are located on land in the Potiguar Basin in the state of Rio Grande do Norte

Petrobras announced this Monday, December 9, the sale of 34 onshore oil fields in the Potiguar Basin, in Rio Grande do Norte, to the subsidiary of Petrorecôncavo SA Take advantage and sign up for job openings to serve the Brazilian oil company in RN.

The company informed through a note that the operation was completed with the payment of US$ 266 million to Petrobras, after compliance with all conditions precedent and adjustments provided for in the contract.

In addition, there will be a payment of 61,5 million conditioned on obtaining the extension of the concession period for 10 of the 34 concessions, Petrobras said, noting that the agreement is in line with the asset sales policy and focus on production in the pre-salt layer. .

“We are happy at the end of this very important process for Petrobras' divestment portfolio. These 34 fields in Rio Grande do Norte will foster the onshore exploration and production industry, while Petrobras focuses on deep and ultra-deep waters, where it has a competitive advantage”, said the executive manager of Portfolio Management at Petrobras, Ana Paula Saraiva.

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About the RN oil fields

The 34 fields at the Riacho Forquilha Polo are located on land in Potiguar Basin in the state of Rio Grande do Norte, and produced an average of 5,8 barrels of oil equivalent per day (boe) in 2019.

All concessions are 100% Petrobras, with the exception of the Cardeal and Colibri fields, where Petrobras holds a 50% stake, with Partex Brasil Ltda. as operator with a 50% stake, and the fields of Sabiá da Mata and Sabiá Bico-de-Osso where Petrobras has a 70% stake, with Sonangol Hidrocarbonetos Internacional do Brasil Ltda. as operator with a 30% stake.

Marcelo Magalhães, CEO of Petrorecôncavo defined the acquisition as a milestone for the sector “For Petrorecôncavo, the acquisition of the Riacho da Forquilha complex is a historic moment (…) We are certain that it will be a success and will pave the way for other operators to come and we can resume investments in the Brazilian Northeast. It's good for Petrobras, good for those who buy it and good for Brazil”, he pointed out.

The extension of the contracts and the development plans need to be approved by the National Petroleum Agency (ANP), which has already given approval for the transfer of the operation. When the transfer of assets is completed, PetroRecôncavo becomes the largest independent oil producer in the country with the deal.