Petrobras Offloads Onshore Gas Fields
Brazil's Petrobras has wrapped up the sale of four onshore gas fields in the country's Tucano basin in the Bahia state to a local company called Eagle Exploracao de Oleo e Gas, marking another deal in its sweeping divestment programme.
Petrobras received $602,000 when the transaction was signed and a further $2.57mn when it was closed, bringing the total sum to $3.17mn, the national oil company said on December 9. The fields – Conceicao, Querera, Fazenda Matinha and Fazenda Santa Rosa – are situated 110 km from the city of Salvador. They produced an average of 24,300 m3/day of gas between January and October this year.
Petrobas is disposing of non-core upstream, midstream and downstream assets to reduce its leverage and raise capital for investing in deep and ultra-deep fields off Brazil's coast. This month its board also cleared binding offers for the Urucu oil and gas cluster in the Amazonas state from 3R Petroleum Oleo e Gas and Eneva SA. The bids range up to $1bn.