Petrobras Closes Sale Of Several Espirito Santo Assets

Petrobras Closes Sale Of Several Espirito Santo Assets
Petrobras has finalized the sale of all its stakes in the producing fields of Peroa and Cangoa and in the BM-ES-21 concession, jointly called the Peroa Cluster.

Brazilian oil major Petrobras has finalized the sale of all its stakes in the producing fields of Peroá and Cangoá and in the BM-ES-21 concession, jointly called the Peroá Cluster.

The fields are in the Espírito Santo Basin and were sold to the 3R Petroleum Offshore oil and gas company, formerly known as OP Energia.

The transaction was concluded with payment at sight of $8.07 million to Petrobras, already with the adjustments provided for in the contract. The amount received yesterday is in addition to the $5 million paid to Petrobras when the purchase and sale contract was signed.

In addition to this amount, Petrobras is expected to receive up to $42.5 million in contingent payments, depending on future Brent prices and asset development.

“This disclosure is in accordance with Petrobras' internal rules and with the provisions of the special procedure for assignment of rights on exploration, development and production of oil, natural gas, and other fluid hydrocarbons,” the company said.

This transaction is in line with the company's portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide a greater return to society. Petrobras is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown a great competitive edge over the years.

Petrobras holds 100 percent stakes in the Peroá and Cangoá fields, located in shallow waters, whose average production from January to June 2022 was about 572 thousand cubic meters per day of non-associated gas, and 100 percent stakes in the BM-ES-21 exploratory block, located in deep waters, where the Malombe discovery is located.

As for 3R Petroleum, it is a company focused on the redevelopment of mature and producing fields. The redevelopment of offshore fields is carried out by 3R Petroleum Offshore.

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