Petrobras Discusses Details Involving the Sale of Its Stake in the Pre-Salt Area of the Santos Basin

Written by Valdemar Medeiros

Published on 12/08/2020 at 16:02

Updated on 12/08/2020 at 16:06

bloco exploratório BM-S-51 em alto mar

Be the first to react!

Petrobras Has Put the Exploration Block BM-S-51 Up for Sale in the Santos Basin, Off the Brazilian Coast, a Move That Will Give Buyers Access to Potential Oil and Natural Gas Deposits in the Pre-Salt

‘This exploration block is strategically positioned in relation to other discoveries in the Santos Basin and exploration areas in the production sharing polygon,” said Petrobras in a statement. The company holds an 80% operational stake, with the Spanish-Chinese joint venture Repsol Sinopec Brasil.

Petrobras Plans to Sell 50% to 100% of Its Stake in the Pre-Salt Area

The sale expands Petrobras’ ongoing divestment program amid uncertainties over the amount of funds the company will raise during the current market turmoil and the ongoing coronavirus pandemic, which has nearly stalled merger and acquisition activity in the global oil industry. Petrobras aims to raise US $ 20 billion to US $ 30 billion by the end of 2024, including the sale of eight of the 13 refineries operated by the company when it ends its monopoly.

Thus, the sale also represents only the second potential sale of an offshore asset with pre-salt potential in the Santos Basin, where the majority of the multi-billion dollar pre-salt discoveries were made in the late 2000s and early 2010s. Petrobras previously sold the Bacalhau Field to Norway’s Equinor for US $ 2.5 billion.

ARTICLE CONTINUES BELOW

The BM-S-51 Block Is in the First Phase of Exploration, with a Firm Commitment to Drill One Remaining Exploratory Well, Petrobras Said

Finally, potential bidders must be qualified as Class A operators by the National Oil Agency, or ANP. The operator designation allows for exploration and production activities in deep and ultra-deep waters.

Investors Have Until August 24 to Express Interest and Obtain Documents from Petrobras. With Confidentiality Agreements and Other Documents to Be Submitted by Potential Bidders by the Deadline of September 4, Petrobras Said.

Petrobras Discusses Details Involving the Sale of Its Stake in the Pre-Salt Area of the Santos Basin

Petrobras Has Put the Exploration Block BM-S-51 Up for Sale in the Santos Basin, Off the Brazilian Coast, a Move That Will Give Buyers Access to Potential Oil and Natural Gas Deposits in the Pre-Salt

Also Read

Petrobras Plans to Sell 50% to 100% of Its Stake in the Pre-Salt Area

The BM-S-51 Block Is in the First Phase of Exploration, with a Firm Commitment to Drill One Remaining Exploratory Well, Petrobras Said

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

This technology could retire washboards and regular washing machines: Xiaomi launches a three-drum washer with an automatic detergent dosing system, washes clothes at 95°C simultaneously, prevents cross-contamination, and costs less than R$ 3,000 in China.

In a country where about 75% of the territory is mountainous and little land is left for planting, Japan has turned scarcity into luxury, selling pairs of Yubari melons for amounts that reached nearly US$ 45,000 and cultivating the true wasabi that 90% of the world has never tasted.

Abandoned boars and pigs in Fukushima create fast-breeding hybrids and turn the nuclear area into a natural laboratory

A bi-oceanic railway is expected to connect the Brazilian coast to the Chinese port of Chancay in Peru and cross the South American continent from coast to coast. It is part of the same package of R$ 140 billion in railways that the government is opening to investors later this year.

Japan is about to launch a satellite that captures solar energy in space and sends electricity to Earth in the form of microwaves. The technology promises to generate energy 24 hours a day without relying on clouds, night, or solar panels on the ground.

Petrobras Discusses Details Involving the Sale of Its Stake in the Pre-Salt Area of the Santos Basin

Petrobras Has Put the Exploration Block BM-S-51 Up for Sale in the Santos Basin, Off the Brazilian Coast, a Move That Will Give Buyers Access to Potential Oil and Natural Gas Deposits in the Pre-Salt

Also Read

Petrobras Plans to Sell 50% to 100% of Its Stake in the Pre-Salt Area

The BM-S-51 Block Is in the First Phase of Exploration, with a Firm Commitment to Drill One Remaining Exploratory Well, Petrobras Said

With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

Forget petroleum-based asphalt: a Scottish company transforms 684,000 plastic bottles into one kilometer of road that is 60% more resistant and up to 10 times more durable, and the technology has already started replacing traditional asphalt in more than 30 countries.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Spain installs two giant pipelines 2.2 km off the coast to draw water from the Mediterranean and supply a megafacility capable of producing 200 million liters of drinking water per day.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Why didn’t oil reach $150 even after three months of the Strait of Hormuz being closed?

Farmer drills well in Ceará in search of water, accidentally finds crude oil and sees million-dollar discovery hindered by a rule that completely changes the future of the site.

Family finds oil on a 49-hectare site in Ceará, but exploration has no timeline or guarantee of happening

When drilling an artesian well, a farmer wanted water but found oil: ANP confirms that the dark liquid found by a farmer on a site in Ceará is crude oil.

European stocks rise with oil drop after Trump’s remarks on Iran as investors monitor global tension

This technology could retire washboards and regular washing machines: Xiaomi launches a three-drum washer with an automatic detergent dosing system, washes clothes at 95°C simultaneously, prevents cross-contamination, and costs less than R$ 3,000 in China.

In a country where about 75% of the territory is mountainous and little land is left for planting, Japan has turned scarcity into luxury, selling pairs of Yubari melons for amounts that reached nearly US$ 45,000 and cultivating the true wasabi that 90% of the world has never tasted.

Abandoned boars and pigs in Fukushima create fast-breeding hybrids and turn the nuclear area into a natural laboratory

A bi-oceanic railway is expected to connect the Brazilian coast to the Chinese port of Chancay in Peru and cross the South American continent from coast to coast. It is part of the same package of R$ 140 billion in railways that the government is opening to investors later this year.

Japan is about to launch a satellite that captures solar energy in space and sends electricity to Earth in the form of microwaves. The technology promises to generate energy 24 hours a day without relying on clouds, night, or solar panels on the ground.