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Brazil's Petrobras Announces African Oil Venture Stake Sale

Source: www.gulfoilandgas.com 11/7/2017, Location: Africa

Petrobras has initiated the opportunity disclosure stage (“Teaser”) related to the sale of 100% equity interest in Petrobras Oil & Gas B.V. (“POGBV”), a joint venture formed by Petrobras (50%), BTG Pactual E&P B.V. (40%) and Helios Investment Partners (10%). Petrobras is leading this sale process.

POGBV owns interests in two world-class deepwater offshore blocks in Nigeria, which contain the producing fields Akpo and Agbami, the ongoing oil development Egina, with first production expected in late 2018, as well as the Preowei discovery, which is currently being appraised.

The giant Akpo and Egina fields are operated by Total and Agbami by Chevron. POGBV’s net entitlement reserves amount to approximately 204 million bbl with current production of 48 thousand bbl/day and expectation to reach around 75 thousand bbl/day by 2019.

For more information about related Opportunities and Key Players visit West Africa Projects

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

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


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