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The Sales Operations of Land Fields in RN by Petrobras Total US$ 582.3 Million to Date; This Is the Third Sale of Mature Oil Fields in RN in Less Than a Year.
On Monday, September 30, Petrobras signed with Central Resources do Brasil Produção de Petróleo Ltda. contracts for the sale of its entire stake in the land fields of Ponta do Mel and Redonda, located in the State of RN. Oil Exploration in Rio Grande do Norte Generates R$ 18.2 Million in Investments.
This is the third sale of mature oil fields in RN in less than a year. The negotiation value is US$ 7.2 million, to be paid in full upon closing the transaction, not considering any due adjustments, the state-owned company informed in a market announcement.
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The sales operations of land fields in RN by Petrobras total US$ 582.3 million to date.
In the market announcement, the company highlights that “the oil production from the Ponta do Mel and Redonda fields in the first half of 2019 totaled about 540 bbl/day.”
The discoveries of these fields, made in 1984 and 1987, were the result of service contracts for oil exploration with a risk clause (the so-called “Risk Contracts”), currently held by Central Resources.
Through these contracts, the contracting company explored the delineated areas, at its own risk, and due to oil discoveries, acquired the right to receive from Petrobras a financial interest in the net results of the fields.”
Central Resources do Brasil Produção de Petróleo is an oil and gas operator linked to the Central Resources Group, focused on the redeveloping of mature land fields. It currently performs oil operations in Rio Grande do Norte and Espírito Santo.
According to Petrobras, the closing of the transaction is subject to the fulfillment of precedent conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
Recôncavo Basin
Earlier, the state-owned company announced the start of the opportunity disclosure stage (“teaser”) for the sale of its entire stake in eight exploratory blocks on land located in the Recôncavo Basin, in Bahia.
According to the company, the blocks are located in an area with installed infrastructure and proven oil system, close to producing fields. Petrobras holds full participation in the concessions and announced that offers should be made per block.
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