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Petrobras Announced on Monday (20) That It Signed a Contract with Ubuntu, Selling Its Entire Stake in the Paraná Basin
Yesterday, December 20, Petrobras signed a contract with Ubuntu Engineering and Services, completely relinquishing its concession PAR-T-198_R12 in the Paraná Basin. The negotiation resulted in a value of US$ 31,000 for the oil company, which reported that the closing will occur subject to the fulfillment of precedent conditions and approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
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The concession PAR-T-198_R12 is located in the far west of the State of São Paulo and was acquired in the 12th ANP Bidding Round in 2013. It is currently in the 1st Exploratory Period and has fully complied with the Minimum Exploratory Program (PEM) commitments. Petrobras holds a 100% stake in the concession.
Petrobras also noted that the negotiation is being conducted according to its portfolio management strategy and aims to improve the allocation of the company’s capital, with the goal of maximizing value and providing the greatest return to society.
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New escalation of tensions and oil crisis in the Middle East forces world powers to accelerate energy transition plans.
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Giant reservoirs with a capacity of 18 million cubic meters have turned Fujairah into one of the largest energy vaults on the planet. This facility, located outside the Strait of Hormuz, stores oil on a colossal scale and has become a silent piece that supports the global flow of fuels.
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The next exploration auction in the pre-salt will offer 23 blocks in the Campos and Santos basins and may change the interest of oil companies in Brazil.
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The next exploration auction in the pre-salt will offer 23 blocks in the Campos and Santos basins and could change the interest of oil companies in Brazil.
About Ubuntu
Ubuntu Engineering and Services was founded in 2018, headquartered in São Mateus, Espírito Santo, to perform engineering services. The company also engages in secondary services of oil and natural gas extraction and support activities for this extraction.
About Petrobras
Petrobras S.A. is a mixed-capital company, founded in 1953 by Getúlio Vargas, with the Federal Government as the majority shareholder, thus making it a state-owned enterprise. The company’s focus is on the extraction and production of oil and its derivatives and natural gas.
ANP Auction Brings Together Petrobras, Shell, and Total for Exploration and Production of Excess Volumes from the Production Sharing Agreement in the Atapu and Sépia Fields
The 2nd Auction Round for the Excess of the Production Sharing Agreement in the Atapu and Sépia offshore fields, held on Friday (17) by the ANP (National Agency of Petroleum, Natural Gas and Biofuels), sparked mixed reactions in the Brazilian oil and gas market.
Union representatives linked to workers protested against the increasing foreign presence in the sector, considered strategic for the defense of national sovereignty, while oil companies and major fuel distributors assessed the auction result positively for enhancing competitiveness and attracting new investments at a time when the economy is facing a phase of technical recession, inflation, and high unemployment levels. Environmentalists also demonstrated in front of the hotel in Rio de Janeiro where the auction took place. Check out this article in full by clicking here.
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