PetroRio compra da Petrobras participação restante no campo de Frade por US $ 100 milhões

PetroRio Acquires Remaining Stake in Frade Field from Petrobras for $100 Million

Written by Paulo Nogueira

Published on 29/11/2019 at 07:04

Updated on 29/11/2019 at 07:07

Executivos da Petrobras e PetroRio – Fonte PetroRio

Seja o primeiro a reagir!

Petrobras Signed a Contract with PetroRio for the Sale of 30% of the Frade Concession, Located in the Campos Basin, North Coast of the State of Rio de Janeiro, for US $ 100 Million

Currently, PetroRio holds a 70% stake in the Frade concession. The company previously purchased Chevron’s 51.74% interest in the Frade field in a transaction completed in March 2019. But there are also latent investments in the Polvo field by the Brazilian company.

The transaction also included the sale of all the shares held by Petrobras Frade Inversiones S.A. (PFISA), a Petrobras subsidiary, in the company Frade BV, which owns the offshore assets used in the development of production in the Frade field.

The sale price of US $ 100 million will be paid in two installments: US $ 7.5 million upon signing the contract; and US $ 92.5 million at closing the transaction, subject to due adjustments. Additionally, there is a contingent of US $ 20 million due to a potential new discovery in the field.

ARTICLE CONTINUES BELOW

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Technical Agenda and the Fair in the City of Macaé Should Boost Discussions on Investments, Energy Transition, and Development of the Oil, Gas, and Energy Chain in the National...

Paulo Nogueira

The closing of the transaction is subject to the fulfillment of preconditions, such as approvals from the Administrative Council for Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The Frade Field is located about 118 km off the northern coast of the state of Rio de Janeiro, in water depths between 1,050 and 1,300 meters. Production began in June 2009, and the average production in 2019 was about 18,400 boe/day. After the completion of the sale, PetroRio will hold 100% of the consortium and Frade BV through its subsidiaries.

About PetroRio

PetroRio S.A. is a Brazilian publicly traded company focused on investment and asset recovery in production, specialized in efficient reservoir management and the development of mature fields, dedicated to the production, exploration, commercialization, and transportation of oil and natural gas.

PetroRio Acquires Remaining Stake in Frade Field from Petrobras for $100 Million

Petrobras Signed a Contract with PetroRio for the Sale of 30% of the Frade Concession, Located in the Campos Basin, North Coast of the State of Rio de Janeiro, for US $ 100 Million

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

About PetroRio

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

Found in one of the most radioactive places on Earth, this Chernobyl fungus may be doing something with radiation that no one has been able to explain to this day.

The U.S. Army receives the first Black Hawk helicopter that can fly without pilots, be controlled by a tablet, and even land on its own during high-risk missions.

With more than 635,000 doctors, Brazil sees competition increasing in large cities, and recent graduates are competing for shifts at an accelerated pace while the countryside still faces shortages.

What can really trigger large volcanic eruptions? Research suggests that gas returning to the magma may be more dangerous than gas escaping from it.

Goodbye expensive popular car: electric vehicle for less than R$ 70,000 starts being sold in Brazil with a range of 200 km and targets those looking to escape gasoline.

With an investment of R$ 612 million, a capacity to process 1.2 million liters of milk per day, Piracanjuba inaugurates a mega cheese factory that increases national production, reduces dependence on imports, and repositions Brazil on the global dairy map.

USA and China compete for Brazil over resources that could be worth trillions — rare earths put the country at the center of a global dispute

Motorola launched the Signature with a gold seal from DxOMark, tying with the iPhone 17 Pro in camera performance, Snapdragon 8 Gen 5 that surpassed 3 million in benchmarks, and a zoom that impresses even at night.

Satellites reveal beneath the Sahara a giant river buried for thousands of kilometers: study shows that the largest hot desert on the planet was once traversed by a river system comparable to the largest on Earth.

The government requests the Federal Revenue Service for a new system to automate the income tax declaration, reducing errors, time, and bureaucracy for millions of Brazilians.

With 74% of companies facing difficulties in hiring, technicians and engineers in renewable energy are becoming scarce in Brazil and are essential to support the expansion of solar, wind, and green hydrogen projects.

PetroRio Acquires Remaining Stake in Frade Field from Petrobras for $100 Million

Petrobras Signed a Contract with PetroRio for the Sale of 30% of the Frade Concession, Located in the Campos Basin, North Coast of the State of Rio de Janeiro, for US $ 100 Million

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

About PetroRio

At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

Found in one of the most radioactive places on Earth, this Chernobyl fungus may be doing something with radiation that no one has been able to explain to this day.

The U.S. Army receives the first Black Hawk helicopter that can fly without pilots, be controlled by a tablet, and even land on its own during high-risk missions.

With more than 635,000 doctors, Brazil sees competition increasing in large cities, and recent graduates are competing for shifts at an accelerated pace while the countryside still faces shortages.

What can really trigger large volcanic eruptions? Research suggests that gas returning to the magma may be more dangerous than gas escaping from it.

Goodbye expensive popular car: electric vehicle for less than R$ 70,000 starts being sold in Brazil with a range of 200 km and targets those looking to escape gasoline.

With an investment of R$ 612 million, a capacity to process 1.2 million liters of milk per day, Piracanjuba inaugurates a mega cheese factory that increases national production, reduces dependence on imports, and repositions Brazil on the global dairy map.

While Brazil wants to end the 6×1 work shift, the president of Argentina wants 12 hours for his workers, increasing political tension in the country.

The village where two rivers run side by side without mixing in Santarém and Alter do Chão reveals some of the most beautiful freshwater beaches on the planet.

Mars is accelerating, and scientists have discovered that the planet’s day is getting shorter, revealing surprising signs of internal activity.

Artemis 2 is set to launch on April 1 at 7:24 PM to orbit the Moon with four astronauts, but a class X solar flare and coronal mass ejection could interfere with communications and threaten the launch.

The largest deposit of Vale was discovered by accident and today represents almost all the ore produced by the company.

USA and China compete for Brazil over resources that could be worth trillions — rare earths put the country at the center of a global dispute

Motorola launched the Signature with a gold seal from DxOMark, tying with the iPhone 17 Pro in camera performance, Snapdragon 8 Gen 5 that surpassed 3 million in benchmarks, and a zoom that impresses even at night.

Satellites reveal beneath the Sahara a giant river buried for thousands of kilometers: study shows that the largest hot desert on the planet was once traversed by a river system comparable to the largest on Earth.

The government requests the Federal Revenue Service for a new system to automate the income tax declaration, reducing errors, time, and bureaucracy for millions of Brazilians.

With 74% of companies facing difficulties in hiring, technicians and engineers in renewable energy are becoming scarce in Brazil and are essential to support the expansion of solar, wind, and green hydrogen projects.