Petrobras Offloads More Onshore Fields
Brazil's Petrobras said on December 17 it had reached a deal to sell stakes in 14 onshore oil and gas fields in the Bahia state to Ouro Preto Energia Onshore for $250mn, marking the latest sale in its sweeping divestment programme.
The fields, known as the Reconcavo cluster, produced 2,145 barrels/day of oil and 465,000 m3/day of gas in January through November. Petrobras has 100% interests in all of them save for the Cambacica and Guanambi deposits, where it has 75% and 80% positions respectively. Ouro Preto has already paid $10mn and will settle the remaining $240mn price when the deal is closed.
Petrobras sold four other onshore fields in Bahia earlier this month to a local company called Eagle Exploracao de Oleo e Gas, although that deal was only worth $3.17mn. The company also said on December 18 it sold 50% of a subsidiary that produces biodiesel to RP Participacoes em Biocombustiveis for reais 319mn ($63mn).