Petrobras Sells Colombian Pipelines, Blocks to Perenco for $380M


SAO PAULO, Sept 13 (Reuters) - Brazil's state-run oil company Petrobras said its board had approved the sale of its Colombian oil pipelines and some of its onshore oil blocks to Perenco for $380 million.

The sale of the assets is part of a broader divestment program to pare back on what it considers some of its less attractive assets. The company wants to free up cash to develop vast subsalt oil fields off the coast of Rio de Janeiro.

In a statement published late on Friday, Petrobras said the sale to Perenco included 11 onshore exploratory and production blocks that currently have average output of 6,530 barrels of oil equivalent per day.

Perenco will also get Petrobras' oil pipelines Colombia and Alto Magdalena, with respective capacities of 14,950 bpd and 9,180 bpd.

The deal depends on approval from Colombia's oil regulator ANH.

Petrobras will continue to have a presence in Colombia through stakes in other onshore and offshore exploratory blocks, and through its fuels distribution company.

Copyright 2017 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Mechanical Superintendent, Construction
Expertise: Construction Engineer|Mechanical Technician
Location: Alvin, TX
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
Surface Land Professional Job
Expertise: Landman|Lease Analyst
Location: San Antonio, TX
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours