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

Galp

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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

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

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