The sale of onshore fields in RN by Petrobras totaled US$ 582,3 million to date; this being the third sale of mature oil fields in RN in less than a year.

This Monday, September 30, Petrobras signed contracts with the company Central Resources do Brasil Produção de Petróleo Ltda. for the sale of its entire stake in the onshore fields of Ponta do Mel and Redonda, located in the State of RN. Oil exploration in Rio Grande do Norte generates R$ 18,2 million in investments.

It is the third sale of mature oil fields in RN in less than a year. The value of the negotiation is US$ 7,2 million, to be paid in full at the closing of the transaction, without considering the necessary adjustments, the state-owned company informed in a statement to the market.

Operations for the sale of onshore fields in RN by Petrobras totaled US$582,3 million to date.

In the statement to the market, the company highlights that “oil production from the Ponta do Mel and Redonda fields, in the first half of 2019, totaled around 540 bbl/day”.

The discoveries of these fields, which took place in 1984 and 1987, were the result of contracts for the provision of services for oil exploration with a risk clause (the so-called “Risk Contracts”), currently held by Central Resources.

Through these contracts, the contracting company explored the delimited areas, at its own expense and risk, and due to the oil discoveries, acquired the right to receive a financial participation from Petrobras on the net result of the fields”.

Central Resources do Brasil Produção de Petróleo is an oil and gas operator, linked to the Central Resources Group, focused on the redevelopment of mature onshore fields. It currently performs oil operation activities in Rio Grande do Norte and Espírito Santo.

According to Petrobras, the closing of the transaction is subject to the fulfillment of conditions precedent, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

Recôncavo Basin

Earlier, the state-owned company announced the start of the opportunity disclosure stage (“teaser”) for the sale of its entire stake in eight exploratory blocks on land located in the Recôncavo Basin, in Bahia.

According to the company, the blocks are located in an area with installed infrastructure and a proven oil system, close to fields in production. Petrobras holds the entire stake in the concessions and disclosed that the bids must be carried out by block.

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