Petrobras Begins the Binding Phase of E&P Assets in Sergipe-Alagoas Basin

Source: www.gulfoilandgas.com 5/10/2022, Location: South America

Petrobras, following up on the release disclosed on July 1 2020, has started the binding phase regarding the sale of its total participation in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe.

Potential buyers qualified for this phase will receive a process letter with instructions on the divestment process, including guidelines for due diligence and for submitting binding proposals.

This disclosure is in accordance with Petrobras' divestment guidelines and the provisions of the special procedure for the assignment of rights of exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree No. 9,355/2018.

This operation is in line with the company's portfolio management strategy and the improved allocation of its capital, aiming to maximize value and provide a higher return to society. Petrobras continues to concentrate its resources on assets in deep and ultradeep waters, where it has shown a great competitive differential over the years, producing better quality oil and lower greenhouse gas emissions.

About the Tartaruga field

The Tartaruga field is located on the northern coast of the state of Sergipe, in the municipality of Pirambu, in shallow waters of the Sergipe-Alagoas Basin. The wells in the field were drilled directionally, from the base located in the onshore portion of the ring-fence. The average production in the 1Q22 was approx. 202.26 bbl/day of light oil (37º API) and 2,161 m3/day of associated gas.

Petrobras holds a 25% stake in the field and Maha Energy Brasil Ltda. is the operator, with a 75% stake.


United States >>  6/30/2022 - U.S. Energy Corp. has entered into an agreement (the “Agreement”) to acquire operated oil and gas producing properties in an all-cash transaction (the...
Tanzania >>  6/29/2022 - Wentworth, the independent, Tanzania-focused natural gas production company, is pleased to provide an update on its agreement with Scirocco Energy plc...

Tanzania >>  6/29/2022 - Scirocco Energy, the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is please...
United States >>  6/29/2022 - A 51 percent stake in the North Platte deep water development project in the US Gulf of Mexico will be sold by Equinor to Shell. Shell will take over ...

Brazil >>  6/27/2022 - Petrobras, following the announcements released on 02/08/2021, 08/25/2021 and 10/01/2021, informs that it restarted the sale processes of the Abreu e ...
South Africa >>  6/27/2022 - In accordance with a farmout agreement (the "Agreement"), Eco (Atlantic) Oil & Gas Ltd., the oil and gas exploration company with a focus on the offsh...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.