Petrobras hands over Campos basin stake to PetroRio

  • Business & Finance

Petrobras has signed with PetroRio S.A. the contracts regarding the sale of 20% of its interest in the concessions of Bijupirá and Salema fields, offshore Brazil, currently operated by Shell.

The transaction amount is $25 million, subject to adjustments common in this type of operation.

The fields are located in Campos basin, at between 480 to 850 meters of water depths. The average daily production is 22 thousand barrels of oil and 325 thousand m3 of associated gas. The oil extracted is light, between 28º to 31º API.

According to Petrobras’ press release, this operation is part of its Divestment Plan, is related to the portfolio optimization in the Exploration and Production area, and is aligned to the 2015-2019 Business and Management Plan.

The company notes the conclusion of the purchase and sale transaction between the parties is subjected to certain preceding conditions, among which, the approval of an assignment of rights by the Board of Directors of the Brazilian Administrative Council for Economic Defense – CADE and the Brazilian National Petroleum Agency – ANP.

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