Petrobras signed with Petrorecôncavo the sale of 12 onshore fields in Bahia

The sale of the onshore fields in Bahia was agreed after direct negotiation with Petrorecôncavo where Petrobras will concentrate its resources on offshore assets

Petrobras announced yesterday (23/12) that it signed a multi-billion dollar contract with Petrorecôncavo that involves its entire stake in 12 onshore oil exploration and production fields, called Polo Remanso, located in the state of Bahia. other dbillionaire investment: Petrobras finalizes the sale of Liquigás for 4 billion reais

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The onshore fields in Bahia were sold to Petrorecôncavo for US$ 30 million, of which Petrobras received US$ 4 million today, another US$ 21 million will be paid at the closing of the transaction and US$ 5 million one year after the closing.

According to the state-owned company's report, the values ​​do not consider the adjustments due and 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).

According to Roberto Furian Ardenghy, Director of Institutional Relations and Sustainability at Petrobras, when a new company starts operating assets, an investment process begins with the aim of increasing their useful life. “These are still fields with good productivity, but small for Petrobras' size and type of business. Production will certainly increase, generating more tax payments and benefits for the region”, said Ardenghy.

For Marcelo Magalhães, CEO of PetroRecôncavo, the company's decision to sell onshore fields in mature basins has provided a new dynamism to onshore production, especially in the Northeast region. “We are already feeling the impacts as the expansion of investments in these areas. With the acquisition of these fields, we are committed to continuing to advance with more investments, training and hiring of local labor and services, extending the term of the concessions and expanding the recovery factors of the fields”.

The Remanso Hub comprises the onshore fields of Brejinho, Canabrava, Cassarongongo, Fazenda Belém, Gomo, Mata de São João, Norte Fazenda Caruaçu, Remanso, Rio dos Ovos, Rio Subaúma, São Pedro and Sesmaria, located in the state of Bahia. Average production from January to November was approximately 3,9 barrels of oil per day (bpd) and 75 m?/day of natural gas.

Petrobras is the operator with a 100% stake in these concessions and Petrorecôncavo has been contracted by Petrobras since 2000 to provide services for production operations and project implementation in most of the fields in this Pole.

With the closing of the transaction for the assignment of Petrobras' stake in the Remanso Pole, Petrorecôncavo becomes the concessionaire of the fields and the current service contract will be terminated.