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Sale of Azulao Field in Amazonas Basin

Source: www.gulfoilandgas.com 5/15/2017, Location: South America

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Petroleo Brasileiro S.A. – Petrobras informs that it has started the disclosure phase of the Teaser regarding the transfer of Petrobras’ stake in the Azulao Field, in the Amazonas Basin.

In this project, Petrobras offers 100% of the stake in the Azulao Field (Concession BA-3), located in Amazonas state. The potential transaction represents an opportunity to develop a natural gas discovery in close proximity to existing infrastructure, as well as a power transmission line.

The Teaser contains key information about the opportunity, as well as the objective criteria for the selection of prospective purchasers.

Besides the Teaser, the main subsequent phases of each divestment project will be disclosed, as detailed below:

• Start of the non-binding phase (if applicable);
• Start of the binding phase;
• Concession of exclusive negotiation (if applicable);
• Transaction approval by Senior Management (Executive Board and Board of Directors) and signature of contracts;
• Closing.

The disclosure to the market herein is in compliance with Petrobras' divestment methodology, which was reviewed and approved by our Executive Board, and is aligned with the guidelines of the Federal Accounting Court (TCU – Tribunal de Contas da Uniao).

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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