Petrobras eyes Espírito Santo exit

Earlier this month, Petrobras took a step forward in the sale of its participation in two deep-water concessions in the post-salt, Polo Golfinho and Polo Camarupim in the Espírito Santo Basin.

The move is in accordance with Petrobras’s divestment guidelines, aiming to optimize its portfolio and improve capital allocation in order to maximize value for shareholders.

Polo Golfinho is located in water depths between 1,300 and 2,200 meters, comprising the fields of Golfinho (an oil producer) and Canapu (a non-associated gas producer) and exploratory block BM-ES-23. The average total production of the fields between 2018 and 2019 was 15k bpd of oil and 750k m³ of gas per day.

Polo Camarupim is located in water depths between 100 and 1,050 meters, comprising the Camarupim and Camarupim Norte fields, both producers of non-associated gas.

Petrobras holds 100% stakes in the Golfinho and Camarupim concessions, with the exception of exploratory block BM-ES-23, in which it holds a majority stake of 65%, in partnership with PTTEP (20%) and Inpex (15%). Petrobras is the operator of all concessions.

The teaser, which provides information about the opportunity and eligibility criteria, is available on the company’s website: https://investidorpetrobras.com.br/pt/resultados-e-comunicados/teasers.

Source: Petrobras