Home Petrobras sells 25% of Roncador to Statoil

Petrobras sells 25% of Roncador to Statoil

16 June 2018 to 09: 23
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Some say that this is a form of privatization "in installments" of Petrobras for foreign companies that gain market in Brazil

Petrobras remains firm in its divestment plan, going against even more statists and sympathizers of the state-owned company. It turns out that it has just transferred 25% of the Roncador Field to Equinor (former Statoil), even so, Petrobras still remains the majority in this asset, with 75% of the participating roles. With this transaction, Petrobras disbursed US$ 2 billion, with a previous advance of US$ 117, 5 paid by Equinor just to guarantee that Petrobras does not give up in the future.

The remaining payments that are still missing for future investments are around US$ 550 million, these amounts will be used to maximize the recovery of this asset. If predictions are positive, recovery rates could reach around 5% of recovered oil volumes, which in practical terms could add 500 million more barrels of oil.

Anders Opedal, President of Equinor in Brazil said: “We look forward to working with Petrobras to maximize Roncador's potential. The collaboration between the two companies will allow the extension of the productive life of the field, which will result in positive effects for local communities and the supplier industry. This will also result in more value and resources for the benefit of Brazil and the companies involved”.

Taking into account the current productivity of Statoil (Equinor) in Brazil, with this new acquisition in Roncador, the Norwegian will now have an increase in active roles in the country by 150%. Equinor's current production today is around 40 barrels per day, but the forecast is for this figure to more than double, reaching the range of 100 barrels per day. Foreign companies are gaining more and more space in Brazil, an example of which was Total this week, which acquired 3 plants in São Paulo (check out the article here).

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