Page 18 - LatAmOil Week 26

LatAmOil NEWS IN BRIEF LatAmOil

INVESTMENT production was 106,353 boepd, of which 16.5mn Bruce Dingwall CBE, Executive Chairman
bpd is oil and condensate, 14.3mn cubic metres of Trinity, commented: “At all levels of Govern-
Petrobras releases per day of gas and 1.13mn tonnes per day of ment, the co-operation and support we have
LPG.
received has been instrumental in helping us to
E&P teaser for Tartaruga duction facilities, oil and natural gas production 19 pandemic. The Board of Inland Revenue
In addition to the concessions and their pro-
sustain our operations throughout the COVID-
field in Sergipe-Alagoas processing units and logistical facilities to sup- moved quickly to deliver the VAT Bond Pro-
port production are included in the transaction.
gramme and we are grateful for their support.
Basin in shallow waters Petrobras, June 28 2020 ment in oil prices and, given the robust nature
“We are encouraged by the recent improve-
Petrobras has started the opportunity disclosure of our operations and strong balance sheet, we
stage (teaser), referring to the sale of its entire FINANCE remain well placed despite the challenging envi-
stake in the Tartaruga field, located in shallow ronment. We continue to prudently manage our
waters of the Sergipe-Alagoas Basin, state of Trinity Exploration operations, remain highly resilient to low oil
Sergipe. prices and confident we can ride out the storm
The teaser, which includes key information announces sale of and be open to capture the opportunities that
about the opportunity, as well as the eligibility will inevitably exist for the more robust and low-
criteria for selection of potential participants, $2.8mn in VAT bonds cost operators.”
is available on the Petrobras website. The main Trinity Exploration, June 30 2020
subsequent stages of the project will be reported Trinity Exploration, the independent E&P
to the market in due course. company focused on Trinidad & Tobago, has
Tartaruga field, belonging to the Concession announced the successful sale of the VAT Bonds PERFORMANCE
Area SES-107D, is located on the northern coast received from the T&T Government on May 29,
of the state of Sergipe, in the municipality of 2020, for $2.8mn in cash. Petrobras announces
Pirambu, in shallow waters of the Sergipe-Ala- The proceeds of the sale represent 100% of
goas Basin. The field wells were drilled directly the face value of the VAT Bonds and result in a new production record at
(from onshore to offshore), from the base further strengthening of Trinity’s liquidity posi-
located in the onshore portion of the ring-fence. tion, details of which are summarised as follows: Buzios field in Santos Basin
The field’s average production, from January to VAT Bonds with a principal value of $2.8mn
May 2020, was approximately 580 bpd of light oil were received by Trinity on May 29, 2020; the Petrobras reports that the platforms (P-74, P-75,
(37 degrees API). VAT Bonds relate to VAT refunds due to Trinity P-76 and P-77) installed in the Búzios field, in the
Petrobras holds a 25% stake in the field and from the T&T Government for all Group entities Santos Basin pre-salt, reached new production
Maha Energy Brasil is the operator, with a 75% for the period up to December 31, 2019; the VAT records on June 27 of 664,000 barrels per day
stake. Bonds were sold to a local financial institution (bpd) of oil and 822,000 barrels of oil equivalent
Petrobras, July 01 2020 on June 29, 2020; Trinity’s unaudited proforma per day (boepd).
cash balances following receipt of the proceeds The Búzios field, discovered in 2010, is the
Petrobras releases of the bonds are approximately $19.3mn (equiv- largest deepwater oil field in the world. It is a
world-class asset with substantial reserves, low
alent to TTD0.0059 per share).
E&P teaser for seven strong liquidity position and enhances its ability (90%) of the consortium in the Buzios field, in
This further strengthens Trinity’s already risk and low lifting cost. Petrobras is the operator
onshore fields in to take advantage of any growth opportunities partnership with CNOOC (5%) and CNODC
that may arise as a consequence of the current (5%).
the Solimoes Basin low oil price environment. Petrobras, July 01 2020

Petrobras has started the opportunity disclosure
stage (teaser) for the sale of its stake in a set of
seven onshore production concessions located
in the Solimoes Basin, in the state of Amazonas.
The teaser, which contains the main informa-
tion about the opportunity, as well as the eligibil-
ity criteria for potential participants, is available
on the Petrobras website. The main subsequent
stages of the project will be informed to the mar-
ket in due course.
The Urucucolo comprises seven production
concessions (Araracanga, Arara Azul, Carap-
anaúba, Cupiúba, Leste do Urucu, Rio Urucu,
Sudoeste Urucu), all located in the state of Ama-
zonas, in the municipalities of Tefé and Coari,
occupying an area of approximately 350 square
km.
In the first quarter of 2020, the average

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