Page 11 - LatAmOil Week 45 2019

LatAmOil
NEWS IN BRIEF
LatAmOil
UPSTREAM
Ecopetrol and Occidental complete investment agreement in the US Permian Basin
Ecopetrol informs that today it completed the joint venture transaction announced last July 31, 2019. Through this deal, the company and Occidental Petroleum Corp (OXY) agreed to form a strategic alliance or joint venture for the development of unconventional reservoirs in approximately 97,000 acres (393 square km) of the Permian Basin in the state of Texas.
For these purposes, Ecopetrol Permian, 100% owned by Ecopetrol S.A., has acquired a 49% stake in Rodeo Midland Basin LLC, a company incorporated in the State of Delaware, meeting the capital requirements of such jurisdiction and whose economic activity will be directed towards the execution of the joint development planundertheJV.
Ecopetrol, November 13 2019
Petrobras discloses binding phase for onshore fields
Petrobras, following up on the release dated September 13, 2019, reports on the beginning of the binding phase regarding the sale of its stakes in two onshore concessions, including offload- ing facilities named Cupiúba and Carapanaúba Cluster, located in the state of Amazonas.
Qualified parties for this phase will receive invitation letters with detailed instructions on the divestment process, including guidelines for due diligence 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 com- pany’s capital allocation, aiming at generating value for our shareholders.
About Cupiúba and Carapanaúba Cluster: This cluster comprises the Cupiúba and Carap- anaúba fields and had an average production in 2018 of about 81 bpd of oil and 82,000 m3/day of gas. Petrobras is the operator with 100% stake in these concessions.
Petrobras, November 13 2019
Petrobras discloses
teaser for sale of assets in
Uruguay
Petrobras reports that it has started the opportu- nity disclosure stage (teaser) relating to the sale of its fuel, lubricant and fertiliser distribution business in Uruguay.
In this project, the company aims to sell 100% of the shares held by Petrobras Uruguay Sociedad Anónima de Inversiones (PUSAI), a subsidiary of Petrobras, in Petrobras Uruguay Distribuición (PUDSA), a company that oper- ates in the distribution industry in the country.
The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the Petrobras website. Upcoming key phases of the project will be timely disclosed to the market.
This transaction is aligned with the compa- ny’s portfolio optimisation and capital allocation improvement, aiming at generating value for our shareholders.
In Uruguay, Petrobras operates, through PUDSA, in the fuel and lubricant distribution market, with an asset portfolio that includes a network of 90 service stations, 16 convenience stores, a lubricant logistics terminal and a jet fuel plant, being the second largest fuel distributor in the country.
It also operates in the distribution of liquid fertilisers through two logistics storage termi- nals, being the largest distributor in the country. Regarding the logistics, it also has multiple deliv- ery points located in the main public seaports of the country.
Petrobras, November 11 2019
SERVICES
Maersk Drilling awarded two-well contract for Mærsk Developer offshore Trinidad
Maersk Drilling has entered a contract with BG International, a subsidiary of Royal Dutch Shell, for work offshore Trinidad and Tobago on a two- well development project for the semi-submersi- ble rig Mærsk Developer.
The contract has an estimated duration of 171 days and is expected to commence in Q1-2020. The value of the firm contract is approximately USD 39m, including a mobilisation fee. The con- tract contains five additional one-well options.
The Mærsk Developer is a DSS-21 col- umn-stabilised dynamically positioned semi-submersible rig, able to operate in water depths up to 10,000ft. It is currently operating offshore Mexico.
“We are very pleased to be headed back to Trinidad to build on the successful work Mærsk Developer previously performed for Shell there,” says Morten Kelstrup, COO of Maersk Drilling. Maersk Drilling, November 12 2019
Solstad Offshore: Contract for vessel in Brazil
Solstad Offshore has entered into a new contract for AHTS BOS Turmalina (2006, UT 722L, 165t BP) with Enauta Energia in Brazil. The new char- ter is 1.5 years firm with up to 2 years options thereafter.
Week 45 14•November•2019
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