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After ANP Approval, The Offshore Field of Maromba, Today Owned by Petrobras and Chevron, Was Sold for USD 115 Million
Chevron and Petrobras’s participation in the Maromba field for BW Offshore will be transferred to BW Offshore (BWO). The National Agency of Petroleum, Natural Gas and Biofuels (ANP) granted the transfer this week to the Norwegian company and was confirmed by Décio Oddone, General Director of the agency on the 17th (Saturday). See details of this negotiation here.
“We are proud to announce that our subsidiary BW Energy was approved by the ANP as the operator and received government approval to acquire the Maromba license. This again proves the viability of BWO’s business model for BW Energy and our continued success in developing proven reserves in the current oil price environment,” said Marco Beenen, CEO of BW Offshore.
The closing of the transaction with Chevron and Petrobras is subject to certain conditions precedent. This approval as operator satisfies the main condition precedent for closing the acquisition of the Maromba field and will trigger the first payment of US $ 30 million to Chevron and Petrobras.
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The total acquisition price for the Maromba field is USD 115 million, which will be paid in three milestones as development progresses toward first oil. The second milestone is due at the start of drilling activities, and the third milestone is due at first oil or 3 years after the start of drilling activities, whichever occurs first.
“Maromba represents further proof of our upstream business model. Our Dussafu development is progressing according to our plans and is showing very good production of over 12,000 bbls / no water. Our effort now will be directed toward presenting a development plan to the Brazilian authorities shortly and starting the development of this very attractive license. Maromba is expected to significantly increase our production starting in 2022 and is a very important element in our growth strategy,” said Carl K. Arnet, CEO of BW Energy.
The Maromba field is located off the Brazilian coast, in the Campos Basin, at 160 meters water depth, where BW Offshore has extensive operational experience.
In Brazil
In national territory, BW currently provides services for PetroRio at the Polvo Field, in the Campos Basin and for Petrobras, at the Itapu Field with the FPSO Cidade São Vicente.
In the recent past, it had several ongoing selection processes; now only one remains that will close on August 31, for professionals residing in Rio de Janeiro. Submit your resume on BW’s official page.
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