Petrobras Sells Enchova and Pampo Fields to Trident Energy

With a Bid of Nearly 1 Billion Dollars, Trident Energy, Backed by Warburg Pincus, Is Declared the Winner by Petrobras in the Auction for the Enchova and Pampo Fields in the Shallow Waters of the Campos Basin.

The Enchova and Pampo assets will have new owners. As reported by Click Petróleo e Gás here on our portal, back in mid-June, Petrobras had received two bids of nearly 1 billion dollars for the fields.
In this final round, it was not disclosed who the other company with the competing proposal would be.

The Enchova and Pampo fields, located in the shallow waters of the Campos Basin, received initial bids from the independent Brazilian oil company Ouro Preto Óleo e Gás, which teamed up with the British Seacrest Capital and the Anglo-French Perenco to formalize the offer.

Complex Sale

Petrobras has been trying to sell the Enchova and Pampo fields for almost a year, since the assets entered the oil company’s divestment list.
It is worth remembering that Petrobras is divesting its assets to balance its finances and plans to raise up to 35 billion dollars over a five-year period.

The sale process for these assets has become particularly complex, as it involves a mature field with better performance on the divestment list.
In July 2018, the assets together produced nearly 39,000 barrels of oil equivalent per day,

The proposal from Trident Energy will still need the approval of Petrobras’ board of directors. The meeting is scheduled to take place next week.

Trident Energy is an international oil and gas company focused on the acquisition, operation, and optimization of mid-life international assets.

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