Page 14 - LatAmOil Week 05 2021

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the first stage will also allow for the flexibility to concessions (Araracanga, Arara Azul, Carap-
supply certain quantities of oil to smaller more anaúba, Cupiúba, Leste do Urucu, Rio Urucu,
local refineries. The proximity to the fields of Sudoeste Urucu), all located in the state of Ama-
these mini refineries will result in lower trans- zonas, in the municipalities of Tefé and Coari,
port costs. occupying an area of approximately 350 square
The second stage of the project involving an km.
updated pipeline delivery system is currently In the first quarter of 2020, the average pro-
projected for the end of August. Discussions duction was 106,353 boepd, including 16.5mn
with the relevant third party currently treating bpd of oil and condensate, 14.3mn cubic metres
President’s oil continue with regard to tie in per day of gas and 1.13mn tonnes per day of
facilities circumventing their plant thereby on LPG.
completion of the second stage giving President In addition to the concessions and their pro-
optionality to deliver oil by truck or through its duction facilities, oil and natural gas production
pipeline system. processing units and logistical facilities to sup-
Treatment plant funding: As announced on port production are included in the transaction.
December 22, 2020, the project has been funded Petrobras, February 01 2021
by an Argentine peso denominated loan of
$5mn, meaning that it is repayable in pesos in the Petrobras signs contract
total amount of that currency using the exchange
rate applicable when the loan was taken out. Due long, is tailored to the challenges of the Campos for sale of E&P assets in
to changes in the peso dollar exchange rate, the area. The vessel and its exceptional equipment
amount of the outstanding loan in dollar equiv- spread maximise subsurface illumination and Espirito Santo
alent if it was repaid as at close of business yes- minimise environmental impact, acquiring the
terday shows a reduction of $270,000 resulting targeted coverage faster. Petrobras, following up on the release disclosed
in $4.73mn dollar equivalent as the outstanding Ramform Titan will continue in the area on on August 5, 2019, informs that it has signed
principal sum. Interest paid/accrued to such date the next phase of this exciting Multiclient pro- with the companies OP Energia and DBO Ener-
on the loan is approximately $160,000 giving a gramme, which will deliver multi-azimuth illu- gia a contract for the sale of its equity in the pro-
positive differential of over $100,000 since the mination (MAZ) of presalt targets. ducing fields of Peroá and Cangoá, and in the
loan was taken out in late December. This project combines the latest PGS acquisi- concession BM-ES-21 (Malombe Discovery
Market consensus is that a similar progres- tion and imaging innovations with rejuvenated Evaluation Plan), jointly named Peroá Cluster,
sion in exchange rates will continue though this library data in the Campos Basin to deliver located in the Espírito Santo Basin. OP Energia
year. improved imaging and understanding in a key and DBO Energia will form a consortium to
Peter Levine, Chairman, commented: “Every exploration hotspot. The data covers acreage for acquire the Peroá Cluster, with a 50% stake each,
little [bit] helps. With concentration this year in multiple Brazil licensing rounds. When com- with the first company as operator.
Argentina on expanding production of gas in pleted, the Campos Deepwater GeoStreamer X The sale value is $55mn, being (a) $5mn paid
Rio Negro and oil in Salta, it is very important survey will cover approximately 17,100 square at the present date; (b) $7.5mn at the closing of
that we get the best value out of our existing oil km. the transaction and (c) $42.5mn in contingent
production in Rio Negro.” PGS, February 01 2021 payments foreseen in contract, related to fac-
President Energy, February 03 2021 tors as commerciality declaration of Malombe,
future oil prices and extension of the concessions
INVESTMENT term. The amounts do not consider due adjust-
SERVICES ments until the closing of the transaction, which
is subject to the fulfillment of previous condi-
PGS completes Petrobras receives binding tions, such as approval by the National Agency
proposals for divestment
of Petroleum, Natural Gas and Biofuels (ANP).
GeoStreamer acquisition of Urucu Cluster and Cangoá fields, located in shallow waters,
Petrobras holds 100% interest in the Peroá
on 17th Round Blocks Petrobras, following up on the release disclosed 658,000 cubic metres per day of non-associated
whose average production in 2020 was around
in Campos Basin on December 7, 2020, has received binding pro- gas, and 100% interest in the BM-ES-21 explor-
posals for the sale of its entire stake in a set of atory block, located in deep waters, where the
Ramform Titan has surveyed additional open seven onshore production concessions, called Malombe discovery is located.
acreage to complete PGS coverage of the emerg- Urucu Cluster, located in the Solimoes Basin, OP Energia is a wholly owned subsidiary
ing plays of the outboard Campos Basin. This in the state of Amazonas, and it has begun the of 3R Petroleum Óleo e Gás, a company listed
survey provides the first 3D seismic for Brazil’s negotiation phase of the terms and conditions on the Novo Mercado of the Brazilian Stock
17th Round, scheduled for October 2021. Fast- for the potential sale with Eneva. Exchange, whose strategy is to revitalise mature
track anisotropic (TTI) PSDM products for the The signing of the sale contracts is subject to onshore and offshore fields.
additional acreage will be available in July. the success of the negotiations, which involve DBO Energia is an upstream oil and gas com-
Ramform Titan began towing the largest commercial and contractual aspects of the trans- pany with focus on increasing the recovery factor
spread ever offshore Brazil in June 2020 and action to be approved by the decision-making and efficiency of mature fields in Brazil applying
returned to Campos in December. The acquisi- bodies of both parties. expertise and technology from the North Sea.
tion configuration, with 14 streamers each 10 km The Urucu Polo comprises seven production Petrobras, February 01 2021

P14 www. NEWSBASE .com Week 05 04•February•2021