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Petrobras Announces Sale of E&P Assets in Campos Basin

Source: www.gulfoilandgas.com 9/2/2019, Location: South America

Following the announcement of 08/09/2019, Petrobras announces the beginning of the binding phase of the sale process of all its interests in 11 production fields located in shallow waters in the Campos Basin, jointly called Polo Garoupa.

Those qualified for this phase will receive an invitation letter with detailed instructions on the divestment process, including guidance for due diligence and submission of binding proposals.

This disclosure to the market is in line with Petrobras' Disinvestment System and is in line with the provisions of the special assignment of exploration, development and production rights for oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355 / 2018. In this particular project, as the system allows, there will be no non-binding phase.

This operation is in line with portfolio optimization and the improvement of the company's capital allocation, aiming at generating value for our shareholders.

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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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