Petrobras on Divestment of Urucu Cluster

Source: www.gulfoilandgas.com 1/28/2022, Location: South America

Petrobras, following up on the releases disclosed on 12/07/2020 and 02/01/2021, informs that it has unsuccessfully concluded negotiations with Eneva S.A. for the sale of all of its interest in a set of seven onshore production concessions, called the Urucu Cluster, located in the Solimões Basin, in the state of Amazonas.

Despite the efforts made by both companies in this process, throughout the negotiation, it was not possible to converge on an agreement in certain critical conditions, and it was decided to close the negotiations in progress, without any penalties for either party.

Therefore, Petrobras has decided to end the current competitive process and will evaluate the best alternatives for these concessions.

Petrobras reinforces its commitment to comprehensive transparency of its divestment projects and portfolio management and affirms its focus on deep and ultra-deep water assets, where it has shown a great competitive edge over the years, with high productivity and with lower greenhouse gas emissions.


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