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

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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.

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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

About PetroRio

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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

About PetroRio

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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.

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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.

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