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Petrobras communicated this week about the sale of the Frade field to PetroRIo
Petrobras, which had been negotiating the sale of the Frade field for almost two years, issued a note this Friday (5) that it had finally managed to finalize the sale of its approximately 30% stake in the land located in the Campos Basin, on the coast north of the state of Rio de Janeiro for PetroRio. The buyer of the Frade field was PetroRio Jaguar Petróleo Ltda., a subsidiary of Petro Rio SA (PetroRio), which already owns the remaining 70%.
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Sale of the Frade field successfully completed
After fulfilling the conditions precedent, the sale was successfully completed, yielding approximately US$ 36 million for Petrobras. The amount that was paid to Petrobras today (6) and the signature, total US$ 100 million in revenue for the company.
In addition, this transaction also ended up including the sale of the entire stake held by Petrobras Frade Inversiones SA (PFISA), a subsidiary of Petrobras, in the company Frade BV to PetroRio Luxembourg, which now owns 100% of Frade BV.
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This entire sale and purchase system between Petrobrás and PetroRio is part of a strategy aimed at optimizing the business portfolio and improving the allocation of the company's capital. oil company, aiming to increasingly concentrate its resources that are active in the world class in waters categorized as deep and ultra-deep, a sector in which Petrobras has been standing out and also demonstrating a great competitive advantage over the last few years.
