Petrobras Signs Contract for Sale of Onshore Field in Sergipe

Source: www.gulfoilandgas.com 12/11/2020, Location: South America

Petrobras, in continuation of the statement released on 1/3/20, informs that it signed with Energizzi Energias do Brasil Ltda. contract for the sale of its entire stake in the Rabo Branco onshore field, located in the Sergipe-Alagoas Basin, in the state of Sergipe.

The sale value is US $ 1.5 million, paid in a single installment upon signing the contract. The closing of the transaction is subject to the fulfillment of precedent conditions, such as the non-exercise of preemptive rights by the current consortium partner Petrom Producao de Petroleo e Gas Ltda. (Petrom) and approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

This disclosure is in accordance with the internal rules of Petrobras and with the provisions of the special procedure for the assignment of rights to explore, develop and produce oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018.

This operation is in line with the portfolio optimization strategy and the improvement of the company's capital allocation, starting to increasingly focus its resources on world-class assets in deep and ultra-deep waters, where Petrobras has demonstrated a great competitive differential over the years.

Over the Rabo Branco field
The Rabo Branco field is part of the BT-SEAL-13 concession, which is located south of the Carmopolis field, in the Sergipe-Alagoas Basin, in the state of Sergipe. Petrobras has a 50% stake in the Rabo Branco field, in partnership with Petrom, which is the operator and holds the remaining 50%. The average oil production in the field, from January to October 2020, was 138 bpd.


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