Petrobras Sold Nine Onshore Oil Exploration And Production Fields In Bahia For Over R$ 1 Billion Yesterday (06/12)

Written by Flavia Marinho

Published on 07/12/2021 at 11:47

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The Nine Onshore Oil And Gas Fields In Bahia Sold Yesterday (06/12) By Petrobras Were To A Wholly-Owned Subsidiary Of PetroRecôncavo

Petrobras announced last night (06/12) in a relevant fact to the market that it has finalized the sale of its entire stake in nine onshore exploration and production fields, collectively known as Polo Miranga, located in the state of Bahia, to SPE Miranga, a wholly-owned subsidiary of PetroRecôncavo (PetroRecôncavo).

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According To Petrobras, After The Fulfillment Of Precedent Conditions, The Operation Was Concluded With The Payment Of US$ 47.7 Million To Petrobras, Already With The Adjustments Provided In The Contract.

The Amount Received At Closing Adds To The Total Of US$ 11 Million Paid To Petrobras At The Signing Of The Sale Contract. The Company Will Also Receive The Following Installments, Subject To Adjustments: (i) US$ 80.1 Million To Be Paid In Twelve, Twenty-Four And Thirty-Six Months; And (ii) Up To US$ 85 Million In Contingent Payments Related To Future Oil Prices.

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It’s Important To Note That Petrobras Continues To Focus Its Resources More And More On Deep And Ultra-Deep Water Assets, Where It Has Demonstrated A Great Competitive Advantage Over The Years, Producing Higher Quality Oil With Lower Greenhouse Gas Emissions.

About The Onshore Oil Exploration And Production Fields In Bahia

The Polo Comprises The Onshore Fields Of Miranga, Fazenda Onça, Riacho São Pedro, Jacuípe, Rio Pipiri, Biriba, Miranga Norte, Apraiús And Sussuarana, Located In The State Of Bahia. Petrobras Is The Operator With 100% Participation In These Concessions. The Average Production Of Polo Miranga In 2021 Was Approximately 691 Barrels Of Oil Per Day (BPD) And 362.3 Thousand M³/Day Of Natural Gas.

About PetroRecôncavo

PetroRecôncavo Is A Brazilian Oil And Gas Company, Listed On The Novo Mercado Of The Brazilian Stock Exchange – B3, Working In The Revitalization And Increase Of The Recovery Factor Of Mature Onshore Fields, Currently Being One Of The Largest Independent Producers In The Industry.

The Company Acquired Petrobras’ Stake In The Riacho Da Forquilha Polo In 2019. In 2020, It Acquired A New Exploration Block In The Potiguar Basin And Signed A Purchase And Sale Agreement Regarding Petrobras’ Stake In The Remanso Polo.

Petrobras Sold Nine Onshore Oil Exploration And Production Fields In Bahia For Over R$ 1 Billion Yesterday (06/12)

The Nine Onshore Oil And Gas Fields In Bahia Sold Yesterday (06/12) By Petrobras Were To A Wholly-Owned Subsidiary Of PetroRecôncavo

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About The Onshore Oil Exploration And Production Fields In Bahia

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Petrobras Sold Nine Onshore Oil Exploration And Production Fields In Bahia For Over R$ 1 Billion Yesterday (06/12)

The Nine Onshore Oil And Gas Fields In Bahia Sold Yesterday (06/12) By Petrobras Were To A Wholly-Owned Subsidiary Of PetroRecôncavo

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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

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