Petrom Wants to Enter the Oil and Gas Market by Acquiring a Stake in a Portuguese Company

Written by Renato Oliveira

Published on 18/07/2019 at 15:10

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Eyeing the Oil and Gas Market, Ecom Group Company Files Approval Request with CADE to Acquire Portuguese Galp’s Concession

Petrom, a company of the Ecom group, has just filed an approval request with CADE to acquire the share of the Portuguese oil company Galp in the BT-SEAL-13 concession, where the Rabo Branco field is located in the Sergipe-Alagoas Basin.
Galp’s share in the concession is 50%, the other half belongs to Petrobras. This marks a strong move from a new company in the oil and gas sector.

Petrom was created to explore the national oil and gas market and is negotiating the purchase of Galp’s assets to formalize its entry into this market.

ARTICLE CONTINUES BELOW

The Concession

The BT-SEAL-13 concession, controlled by Galp, includes blocks EAL-T-412, 419, 429, and 456, acquired in the seventh ANP bidding round. All were returned to the agency in April 2018.
According to ANP, the Rabo Branco field, the target of the dispute, produced 156 bopd and 3,000 m³/d of natural gas in May. The field was discovered in 2007.

The Portuguese oil company also has stakes in the Sanhaçu fields (50%) in the Potiguar Basin; Lula (10%), Oeste de Atapu (10%), Sururu (10%), and Berbigão (10%) in Santos.

The Ecom group operates in Brazil in the electricity generation and distribution market and GLP marketing and is expanding its business by investing US $ 5 million in Chile in a 3 MW photovoltaic generation plant.
“Chile has strong potential for solar energy generation,” declared Pulo Toledo, managing partner of Ecom Energia at the time of the investment.

Petrom Wants to Enter the Oil and Gas Market by Acquiring a Stake in a Portuguese Company

Eyeing the Oil and Gas Market, Ecom Group Company Files Approval Request with CADE to Acquire Portuguese Galp’s Concession

The Concession

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Petrom Wants to Enter the Oil and Gas Market by Acquiring a Stake in a Portuguese Company

Eyeing the Oil and Gas Market, Ecom Group Company Files Approval Request with CADE to Acquire Portuguese Galp’s Concession

The Concession

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.

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.

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.

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