Page 14 - LatAmOil Week 01 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
INVESTMENT
Petrobras announces opportunity disclosure stage for sale of interest in BM-P-2 concession
Petrobras announced December 16 it has started the opportunity disclosure stage ( teaser), refer- ring to the sale of its interest in the concession BM-P-2, located in the Pelotas Basin, in the state of Rio Grande do Sul.
Petrobras and Total are partners in this con- cession and each has a 50% stake, with Petrobras as the operator. It will be a joint divestment, between 30% and 65% of participating interest.
The teaser, which contains key information about the opportunity, as well as the eligibility criteria for the selection of potential participants, is available on the Petrobras website. The main subsequent stages of the project will be reported to the market in due course.
This announcement is in accordance with Petrobras’ divestment guidelines and with the provisions of the special procedure for assign- ment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018. This transaction is in line with the portfolio optimisation and the improvement of the company’s capital allocation, aiming at gen- erating value for our shareholders.
The BM-P-2 Concession is located in the Pelotas Basin deep waters , in water depths between 1,000 metres and 2,000 metres and was
acquired by Petrobras (100% interest) in 2004 in the Sixth Bidding Round of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Total became a partner with the acquisition of a 50% stake in 2013.
Currently, the concession contemplates the exploratory blocks P-M-1269, P-M-1271, P-M-1351 and P-M-1353 and is strategically positioned in relation to the 18th ANP Bidding Round, scheduled for 2021, in which blocks from the Pelotas Basin shall be selected. This concession presents a reduced exploratory com- mitment with the potential to prove significant volumes and establish a position in a new explor- atory frontier.
Petrobras, January 05 2020
Petrobras announces
binding phase
on E&P assets
Petrobras, following up on the release disclosed on December 2, 2019, announces that it has started the binding phase referring to the sale of its interest in Dó-Ré-Mi and Rabo Branco onshore fields, belonging to the BT-SEAL-13 Concession, located in the Sergipe-Alagoas Basin.
Qualified parties for this phase will receive a process letter with instructions on the divest- ment process, including guidelines for due dili- gence and submission of binding proposals.
This disclosure complies with Petrobras’ divestment guidelines and is aligned with the provisions of the special procedure for assign- ment of rights on exploration, development
and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018. This transaction is in line with the portfolio optimisation and the improvement of the company’s capital allocation, aiming at gen- erating value for our shareholders.
The fields Dó-Ré-Mi and Rabo Branco were acquired in the ANP’s Seventh Bidding Round in 2005. The Rabo Branco field has been producing light oil since 2012, with an average daily oil pro- duction of 161 bpd in 2018. The Dó-Ré-Mi field has two gas discovery wells, without commercial production yet. Both fields have full 3D seismic coverage.
Petrobras holds 50% of this concession in partnership with Petrogal Brasil, which is the operator and holds the remaining 50%.
The offers must be made by field, separately.
Petrobras, January 03 2020
FINANCE
Petrobras comments
on public offering
of BNDES shares
Petrobras, following up on the release dis- closed on December 13, 2019, reports that it has received new correspondence from the National Bank for Economic and Social Development (BNDES) in which it reports that it has invited Banco de Investimentos Credit Suisse (Brasil), Bank of America Merrill Lynch Banco Múltiplo, Banco Bradesco BBI, BB-Banco de Investimento, Citigroup Global Markets Brasil, Corretora de Câmbio, Títulos e Valores Mobiliários, Gold- man Sachs do Brasil Banco Múltiplo, Banco Morgan Stanley and XP Investimentos Corre- tora de Câmbio, Títulos e Valores Mobiliários to act as intermediary institutions in the potential sale of up to all of its common shares issued by Petrobras, through a public offering of second- ary distribution of shares, with extensive distri- bution efforts in Brazil and abroad, pursuant to applicable laws.
Moreover, as a preparatory step for the Trans- action, Petrobras reports that it has filed Form F-3 with the Securities and Exchange Commis- sion (SEC) regarding all shares, which is a man- datory document to enable BNDES to make a registered offer in the United States. This form will still be analyzed by the SEC, and its effective- ness is subject to approval by such body and does not represent, at this time, the registration of an offer of shares in the United States, Brazil or any other jurisdiction.
Petrobras, January 06 2020
P14
w w w. N E W S B A S E . c o m
Week 01 09•January•2020