Petrobras and PetroRio S.A. have signed contracts for the sale of 20% of Petrobras’ stake in the concessions of Bijupirá and Salema fields, currently operated by Shell, Petrobras said in a news release.
The transaction amounts to US $25 million and is subject to adjustments that are common to this type of operation.
These fields are located in the Campos Basin, between 480 m and 850 m depth. Daily production averages 22,000 bbl of oil and 325,000 cm of associated gas. The oil extracted is light—between 28 degree and 31 degree API, Petrobras said in the release.
As part of the Petrobras’ divestment plan, this operation is related to the portfolio optimization in the E&P area, and is in line with the 2015-2019 Business and Management Plan.
The conclusion of the purchase and sale transaction between the parties is subject to certain preceding conditions, including approval of an assignment of rights by the Board of Directors of the Brazilian Administrative Council for Economic Defense and the Brazilian National Petroleum Agency.
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