Page 10 - LatAmOil Week 41 2019

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NEWS IN BRIEF
LatAmOil
The sale price is $9,372,466.00 to be paid in two installments: (i) $1,405,869.90 upon contract signature; and (ii) $7,966,596.10 upon transac- tion closing, not included any adjustments due.
The transaction closing is subject to the ful- fillment of precedent conditions such as the approval by the Administrative Council for Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The transaction is compliant with the Petro- bras’ Divestment Methodology and with the pro- visions of the special procedure for the sale of the rights to exploration, development and produc- tion of oil, natural gas and other fluid hydrocar- bons, provided for in Decree 9.355/2018.
The transaction is in line with the company´s portfolio optimisation and improvement of cap- ital allocation, aiming at generating value for our shareholders.
The Lagoa Parda Cluster comprises three producing onshore concessions: Lagoa Parda, Lagoa Parda Norte and Lagoa Piabanha. Petro- bras is the operator with a 100% equity interest in all three fields. The current average production of the Cluster is about 300 barrels per day (bpd) of oil and 5,500 cubic metres per day of gas.
Imetame Energia is a Brazilian company that acts in the oil and gas segment as an operator of block and onshore fields in the Brazilian Sedi- mentary Basins of Recôncavo (BA), Potiguar (RN), Espírito Santo (ES) and São Francisco (MG), with an average production of 820 boepd. Petrobras, October 10 2019
New licence partner for
Wintershall Dea in Brazil’s
Potiguar Basin
Wintershall Dea farms down a 30% participating interest in its three Potiguar offshore exploration blocks POT-M-857, POT-M-863 and POT-M- 865 to the subsidiary of Murphy Oil Corporation in Brazil, Murphy Brasil Exploração e Produção de Petróleo e Gás. Wintershall Dea will retain a 70% participating interest and operatorship. The agreement is subject to a final regulatory approval by Brazil’s National Agency of Petro- leum, Natural Gas and Biofuels (ANP).
“The farm-down is in line with Wintershall Dea’s strategy of having a balanced portfolio. Brazil plays an important role for the company, as a region for growth”, says Thilo Wieland, Member of the Management Board of Winter- shall Dea and responsible for Brazil.
Hugo Dijkgraaf, Chief Technology Officer in the Management Board of Wintershall Dea, comments: “We are very pleased, having Mur- phy as a license partner in Potiguar. We are already working with Murphy in Block 5 offshore
Mexico and are now looking forward to extend our co-operation on these prolific exploration blocks offshore Brazil”. As part of the work pro- gram, a 3D seismic campaign is currently under- way in the area. The three blocks cover an area of total 3,133 square km and are located in the Potiguar basin, a proven hydrocarbon system on the Equatorial Margin in North Eastern Brazil and in the vicinity to the light oil discovery Pitu.
Wintershall Dea was awarded the three blocks with a 100% participating interest includ- ing operatorship in Brazil’s 15th Concession Bid- ding Round in November 2018.
Wintershall, October 09 2019
SERVICES
MODEC awarded letter of
intent by Petrobras for
Marlim 1 FPSO
MODEC is pleased to announce that it has received a Letter of Intent (LoI) for the supply, charter, and operations of a floating produc- tion, storage and off-loading (FPSO) vessel for Marlim revitalisation project from Petróleo Bra- sileiro (Petrobras). This marks MODEC’s 16th project for the Brazilian market, and the period of the contract for the unit is 25 years.
The FPSO’s first oil production is planned for 2022 and its operation is part of the Marlim clus- ter revitalisation project. The field is 100% oper- ated by Petrobras and is situated in the Campos Basin, in the northern region of Rio de Janeiro State, 150 km off the coast. The oil wells are at a water depth of approximately 670 metres. The FPSO will be capable of processing 80,000 bar- rels per day of crude oil, 7mn cubic metres per day of gas and 390,000 barrels per day of water
injection, and they will have a minimum stor- age capacity of 1mn barrels of crude oil. This is MODEC’s sixth vessel in the Campos Basin since it started to operate in the region in 2003.
MODEC is responsible for the engineering, procurement, construction, mobilization, char- tering and operations of the FPSO, including topsides processing equipment as well as hull and marine systems. SOFEC, a MODEC group company, will design and supply the spread mooring system for the floating unit. In addition to the Marlim 1 FPSO, MODEC will also provide three more FPSOs for the country within the next years: the FPSO Carioca MV30, the FPSO Guanabara MV31 and the FPSO Almirante Bar- roso MV32. These FPSOs will be deployed in the pre-saltofSantosBasin.
“This new contract reflects our commitment with our operations in Brazil and with Petro- bras,” commented Yuji Kozai, President and CEO of MODEC. “Brazil is a key country in our business strategy and is about to enter a very promising period for the energy segment. Brazil- ian market and Petrobras have been supporting us by strengthening our position in global off- shore oil and gas industry for nearly 20 years. It is our wish to continue to support the development of the local oil and gas industry, either through mature fields like the Marlim revitalization pro- ject as well as greenfield projects in the pre-salt, amongst others.”
Takashi Nishino, President and CEO of MODEC Brazil, highlighted the company’s his- tory in the region. “MODEC began its operations in Brazil back in 2003, precisely in the Campos Basin. We are very honoured to receive a new contract for the region. Today, more than half of MODEC’s employees around the world work in Brazil, and more than 90% of our workforce in the country is composed of Brazilians. Our historyinBrazilisasourceofgreatprideforus.” MODEC, October 16 2019
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Week 40 10•October•2019