Petrobras Completes Sale of E&P Assets in the Paraná Basin

Petrobras, following the press release published on 12/20/2021 and 12/30/2021, informs that it has concluded the sale to the company Ubuntu Engenharia e Serviços Ltda (Ubuntu) of its total stake in the blocks PAR-T- 198 and PAR-T-218, located in the Paraná basin.

After fulfillment of all conditions precedent and approval by the National Agency for Petroleum, Natural Gas and Biofuels (ANP), the transaction was concluded with the payment of US$6,300 to Petrobras. The amount received at closing is added to the amount of USD 56,700 paid to Petrobras upon signing the sales contracts, for a total amount of USD 63,000. This disclosure is in accordance with the internal rules of Petrobras and the provisions of the special procedure for the transfer of the rights of exploration, development and production of petroleum, natural gas and other fluid hydrocarbons, provided for by Decree No. 9 355/2018.

This transaction is part of the company’s portfolio management and capital allocation improvement strategy, aimed at maximizing value and better return for the company. Petrobras is increasingly focusing its resources on deep and ultra-deepwater assets, where it has shown a great competitive advantage over the years, producing higher quality oil and with lower greenhouse gas emissions.

Blocks PAR-T-198 and PAR-T-218 in the Paraná Basin, located in the far west of the state of São Paulo, were acquired during the 12th ANP tender in 2013 and are currently in their 1st exploratory period and with a minimum exploratory. The program commitments (MEP) are already fully respected. Petrobras held a 100% interest in both blocks. Ubuntu is a limited liability company, domiciled in Brazil, engaged in the exploration, production and extraction of oil and natural gas. Currently, Ubuntu operates the Urutau, Cardeal and Colibri fields, located in Rio Grande do Norte; the Rio Mariricu field, in Espírito Santo; and the Dó-Re-Mi field in Sergipe

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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/25042022/petrobras-concludes-the-sale-of-ep-assets-in-the-paran-basin/


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Steven L. Nielsen