Gulf Oil and Gas accountACCOUNT

Petrobras Announces Asset Sale in Colombia

Source: www.gulfoilandgas.com 9/13/2013, Location: South America

Petrobras announces that its Board of Directors, in a meeting held, approved the sale of 100% of shares issued by Petrobras Colombia Limited (PEC) to Perenco for US$ 380 million.

Petrobras Colombia assets which are part of the transaction include interests in 11 onshore exploration and production blocks with net average production of 6,530 boed (barrels of oil equivalent per day) besides the Colombia and Alto Magdalena oil pipelines, with a carry capacity of 14,950 bpd (barrels per day) and 9,180 bpd, respectively.

The conclusion of the transaction is subject to certain conditions precedent, including the approval by Colombia’s National Hydrocarbons Agency – ANH.

Petrobras will keep its presence in Colombia through offshore exploratory blocks, distribution, in addition to 1 onshore exploratory asset.

These transactions represent another important step in Petrobras’ Divestment Program (Prodesin) outlined in the 2013-2017 Business and Management Plan.

Perenco Colombia Limited is a subsidiary of international oil group, Perenco. The company has operated in Colombia’s Llanos Basin since 1993, from where current gross production is 18,500 barrels of oil per day. Operations have focused on developing isolated fields spread over 9,000km˛ and integrating them into a single operation.

Acquisitions and Divestitures News in Colombia >>

United States >>  6/11/2019 - Equilon Enterprises LLC d/b/a Shell Oil Products US (Shell), a subsidiary of Royal Dutch Shell plc announced it has reached an agreement for the sale ...
Kazakhstan >>  6/9/2019 - At the 23rd St. Petersburg International Economic Forum, President of LUKOIL Vagit Alekperov and Chairman of the Management Board of KazMunayGaz Alik ...

Russia >>  6/9/2019 - Gazprom and OMV signed at the St. Petersburg International Economic Forum 2019 the Contract on the amendments to the Basic Agreement on Asset Sale. Th...
Norway >>  6/7/2019 - PGNiG Upstream Norway will acquire 22.2 percent of shares in King Lear field – PL146 and PL333 licenses – from Total E&P Norge. The volume of producti...

Russia >>  6/7/2019 - As part of today’s Saint-Petersburg International Economic Forum, PAO NOVATEK has signed the Share Purchase Agreement (“Agreement”) with CNOOC Ltd. (...
Congo >>  6/6/2019 - New Age (African Global Energy) Limited announces that its subsidiary New Age M12 Holdings Limited has signed a Sale and Purchase Agreement (‘SPA’) wi...

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 


Colombia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.