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    Aguila Energia bids over $1.5bn for Brazil’s Bahia fields: press


Reuters reported the Brazilian-led consortium offered $1.5bn, besting its rivals.

by: Daniel Graeber

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Complimentary, Natural Gas & LNG News, Americas, Liquefied Natural Gas (LNG), Corporate, Contracts and tenders, Infrastructure, News By Country, Brazil

Aguila Energia bids over $1.5bn for Brazil’s Bahia fields: press

A consortium led by Brazilian energy company Aguila Energia placed a high bid of more than $1.5bn to buy the Bahia onshore fields from state-owned Petrobras, the Reuters news service reported October 11.

Sources familiar with the matter told Reuters that Aguila Energia beat out offers from its rivals to grab the Bahia onshore block from Petrobras. The block has 28 onshore concessions and averaged 13,500 barrels of oil and 660,000 m3 of natural gas/day during the two-month period ending in February.

Petrobras is in the midst of a sweeping divestment programme aimed at paying down its debt and freeing up capital for deepwater offshore projects. Petrobras, Reuters reported, had no public comment on the bid.

The Bahia port near the fields is also the site of one of Brazil's LNG import terminals. Petrobras last month signed a lease agreement with the Brazilian subsidiary of US-based Excelerate Energy for the terminal for $18.8mn. Pre-qualified companies were invited in April to bid for leases of the facility’s island pier that can accommodate berthing of a floating storage regasification unit (FSRU).

The Bahia terminal is connected to two onshore delivery points via a 45-km pipeline.