Petrobras has put up for sale the BM-S-51 exploratory block in the Santos Basin, off the Brazilian coast, a move that will give buyers access to potential pre-salt oil and natural gas deposits
'This exploration block is strategically positioned in relation to other discoveries in the Santos Basin and exploration areas in the production sharing polygon,' Petrobras said in a statement. The company holds an 80% operating stake, with the Spanish-Chinese joint venture Repsol Sinopec Brasil.
Read also
- Petrochemical Maintenance Shutdown – Register your resumes
- There will be 3 incredible oil auctions in 2020 and 871 exploration blocks will be offered
- Nine oil wells in the Campos Basin pre-salt were licensed yesterday by Shell
- Petrobras plans to drill 8 oil wells next year(Opens in a new browser tab)
Petrobras plans to sell 50% to 100% of its stake in the pre-salt area
The sale expands Petrobras' ongoing divestment program amid uncertainty over the volume of funds the company will raise during the current market turmoil and the ongoing coronavirus pandemic, which has nearly stalled the global oil industry's mergers and acquisitions. . Petrobras wants to raise $20 billion to $30 billion by the end of 2024. Including the sale of eight of the 13 company-operated refineries when the company ends its monopoly.
As such, the sale also represents only the second potential sale of an offshore asset with pre-salt potential in the Santos Basin, where most of the multi-billion dollar pre-salt discoveries were made in the late 2000s and early 2010s. 2,5. Petrobras previously sold the Bacalhau Field to Norway's Equinor for $XNUMX billion.
- Janja, Lula's wife, defends that Petrobras explores a new oil field that could yield 5 BILLION barrels and generate 350 THOUSAND new jobs, saying that the state-owned company 'is a powerhouse in the matter'
- Petrobras begins dismantling the iconic P-26 platform and opens a multi-million dollar bidding process for recycling in the Campos Basin
- Brazil could receive R$3,2 trillion in energy by 2034: did you know that 78% of this will go to oil and gas?
- Nestlé bets big: first factory with biomethane and ambitious plans for renewable gas throughout Brazil!
Furthermore, Petrobras said at the time that it parted ways with the huge deposit estimated at 700 million to 1,3 billion barrels of recoverable oil because of high pressures that would be more difficult to overcome than other pre-salt deposits. This ends up including the reinjection of gas.
Block BM-S-51 is in the first phase of exploration, with a firm commitment to drill a single remaining exploratory well, Petrobras said.
Finally, potential bidders must qualify as A operators by the National Petroleum Agency, or ANP. The operator designation allows exploration and production activity 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 that must be submitted by potential bidders by the September 4 deadline, Petrobras said.