Page 14 - LatAmOil Week 20 2022

LatAmOil BRAZIL LatAmOil

PetroReconcavo is targeting industrial gas buyers with access to the TAG pipeline (Image: EPE)

“We want to understand this movement,” he was “competitive” rates to encourage potential cus-
quoted as saying by Argus Media. “Both gas pro- tomers to move away from gas distributors.
ducers and consumers perceive the risks but also “PetroReconcavo started with a fixed pricing last
the benefits of the migration, and all of us have year, at which we would guarantee our costs,” he
appetite to assume the risks.” told Argus Media. “Today we are not stuck to
Moreira did not say exactly how much of that anymore, and we consider there is poten-
a discount PetroReconcavo might offer but tial to increase our margins and still offer a very
did report that the company intended to set competitive price for clients.” ™

Petrobras cancels sale of stake

in four Sergipe-Alagoas blocks

BRAZIL’S national oil company (NOC) Petro- was looking to open up a new deepwater frontier
bras has said it will not proceed with the planned province. (Sergipe-Alagoas lies off the coast of
sale of stakes in four deepwater sites in the Ser- Sergipe and Alagoas states. It is far to the north
gipe-Alagoas basin. of the Campos and Santos basins, which include
Petrobras announced its decision at the Brazil’s oil- and gas-rich pre-salt zone.)
weekend, saying in a statement that it was “Petrobras constantly evaluates its port-
bringing the competitive bidding process for folio and, considering the alignment of the
the partial sale of the BM-SEAL-4, BM-SEAL- concessions to the company’s strategy and the
4-A, BM-SEAL-10 and BM-SEAL-11 blocks improvement of Petrobras’ economic-financial
to a close without naming any winners. It indicators, the concessions were kept fully in the
noted in the statement that the blocks are portfolio, marking the beginning of the devel-
home to six known fields – Agulhinha, Budião, opment of a new frontier in deep waters in the
Budião Noroeste, Budião Sudeste, Cavala and Sergipe-Alagoas Basin,” the statement said.
Palombeta. The company went on to say that its deci-
The company assigned names to the fields sion to cancel the Sergipe-Alagoas sale was not
in January of this year. It said at the time that it a sign of flagging commitment to ongoing pri-
intended to develop the hydrocarbon reserves vatisation initiatives. Indeed, it said, Petrobras
found there by installing two floating produc- remains committed to streamlining its portfo-
tion, storage and off-loading (FPSO) platforms. lio and strategically divesting assets in order to
The NOC had first offered stakes in the maintain its focus on deepwater and ultra-deep-
blocks to investors in 2018 and had reached the water upstream development. The NOC intends
binding phase of the sale prior to cancellation. It to continue concentrating on these projects, it
explained its decision not to sell by saying that it said. ™

P14 www. NEWSBASE .com Week 20 19•May•2022