Petrobras to sell gas pipeline unit: press
Brazilian energy company Petrobras is expected to sign a deal next year to sell its part of a natural gas pipeline unit controlling an artery from Bolivia, the Reuters news service reported December 13.
Reuters in August reported that Petrobras received a binding offer worth “several hundred million dollars” from US-based private equity firm EIG Global Energy Partners for its stake in the TBG and TSB natural gas pipeline units.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
On December 13, the news agency cited corporate brass at Petrobras as saying that the sale for its TBG unit was expected by next year. Transportadora Brasileira Gasoduto Bolivia-Brasil, abbreviated as TBG, manages the Gasbol natural gas pipeline that carries gas from Bolivia through five southern Brazilian states.
TSB, formally Transportadora Sulbrasileira de Gas, controls two smaller natural gas pipelines that border Argentina and Uruguay. The most recent report from Reuters offered no information on the fate of that sale.
Petrobras in early December concluded the sale of nine onshore oil and production fields in the Miranga Cluster to SPE Miranga, a subsidiary of PetroReconcavo. The plays, located in the Brazilian state of Bahia, have an average production rate of 691,000 barrels/day of oil and 362,300 m3/d of natural gas.
The deal, announced early this year, was concluded with the payment of $47.7mn to Petrobras. Subject to adjustments, the Brazilian company added that it was still owed payments of some $80mn to be paid off in instalments and another $85mn of contingent payments related to the future price of oil.
Petrobras is in the midst of a sweeping divestment programme aimed at paying down its debt and freeing up capital for deepwater offshore projects.
Separately, Petrobras announced that production of natural gas from the Manati field was halted December 10 due to an issue with a subsea valve. Only temporary disruptions are expected.
“The causes of the incident are being investigated,” Petrobras stated. “There is no risk of discontinuity in the fulfilment by Petrobras of its commitments to its customers and Petrobras keeps the competent bodies informed.”