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Petrobras details onshore divestment plan

Bnamericas Published: Monday, March 07, 2016
Petrobras details onshore divestment plan

Brazil's Petrobras revealed additional information regarding the sale of onshore fields as part of the company's divestment plan.

The onshore process involves 98 production concessions and 6 exploratory blocks in the states of Ceará, Rio Grande do Norte, Sergipe, Bahia and Espírito Santo.

The fields were grouped into 10 production complexes: Fazenda Belém (Ceará, two concessions), Riacho da Forquilha (Rio Grande do Norte, 34 concessions), Macau (Rio Grande do Norte, four concessions), Siririzinho/Riachuelo (Sergipe, 12 concessions), Buracica (Bahia, seven concessions), Miranga (Bahia, nine concessions) and São Mateus (Espírito Santo, 14 concessions), Fazenda São Jorge/Cancã/Fazenda Cedro (Espírito Santo, nine concessions), Lagoa Parda (Espírito Santo, three concessions) and Gás (Espírito Santo, four concessions).

The exploratory concessions are in Espírito Santo.

Combined oil output from these assets is around 35,000b/d or less than 2% of Petrobras production.

"In line with market practices, estimates of the amounts involved are considered to constitute strategic information and will therefore not be disclosed before the sale transaction is concluded," said the energy giant.

Petrobras added it will select and invite companies to participate in a competitive process. A timetable was not disclosed.

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