Page 15 - LatAmOil Week 37 2021

LatAmOil NEWS IN BRIEF LatAmOil

The extension of existing licences on improved the non-binding phase initiated on July 8, 2021, Natural Gas and Biofuels (ANP). The fields are
commercial terms, the broader opportunity set related to the sale of its entire 27.88% equity located in the northern portion of the Santos
being developed via the 3D seismic interpreta- interest in Deten Química, located in the indus- Basin, between 140 and 160 km off the coast of
tion, opportunities to act as a consolidator in trial complex of Camaçari, in the state of Bahia. the state of Rio de Janeiro, in water depths rang-
Trinidad and the potential to work with part- The company is starting today the binding phase ing from 1,000 to 1,500 metres. The fields’ pro-
ners to access more material opportunities, all of the project. duction, in 2020, was approximately 5,000 bpd
provide excellent prospects for the second half Potential buyers qualified for this phase will of oil and 918,000 cubic metres per day of gas.
and beyond. receive a process letter with detailed instructions Petrobras holds a 100% stake in both fields.
Nicholas Clayton, Non-Executive Chairman on the divestment process, including guidelines Petrobras, September 8 2021
of Trinity, commented: “I am incredibly proud of for due diligence and the submission of binding
the resilience demonstrated by the Trinity team proposals.
in the wake of the sudden passing of Bruce Ding- This disclosure complies with Petrobras’ FINANCE
wall and the ongoing challenges to the business internal rules and the special regime of asset
posed by the COVID-19 pandemic. On behalf divestment by federal mixed-capital companies, SBM Offshore completes
of the entire Board, I would like to express my provided for in Decree 9,188/2017. This trans-
sincere thanks to everyone at Trinity for their action is in line with the company’s strategy of $1.6bn financing deal
continued dedication throughout this challeng- portfolio optimisation and capital allocation
ing period. improvement, aiming at maximising value. for Sepetiba FPSO
“The continued hard work and dedication of About Deten: Deten manufactures and sells
our team ensures continued focus on profitably the main raw materials for the production of SBM Offshore has completed the project financ-
scaling the business by acting as a consolidator liquid and powder biodegradable detergents. It ing of FPSO Sepetiba for a total of $1.6bn, which
onshore, working with partners to access larger is the only domestic producer of Linear Alkylb- is the largest project financing in the Company’s
opportunities that we could not contemplate by enzene (LAB), the precursor to Linear Alkylb- history.
ourselves, and diversifying our revenue streams enzene Sulfonate Acid (LABSA), of which it is The project financing was secured by a con-
where opportunities exist to enhance the eco- also the manufacturer. It also produces Heavy sortium of 13 international banks with insurance
nomics of our core asset base. Alkylate (ALP), used in lubricant additives and cover from Export Credit Agencies (ECA): Nip-
“Our strong cash generation, high margin textile oil. pon Export and Investment Insurance (NEXI)
operating model and growing reputation in the Petrobras, September 16 2021 and SACE.
region mean that we are extremely well placed to A letter of intent was received from China
take advantage of an attractive set of new busi- Petrobras releases teaser of Export & Credit Insurance Corporation (Sino-
ness opportunities. sure), which intends to join this transaction by
“It goes without saying that the tragic loss of E&P assets in Santos Basin the end of the year and will replace a portion of
Bruce last month affected everyone at Trinity, the commercial banks’ commitments.
but we are determined to build on his legacy, Petrobras informs that it has started the oppor- The facility is composed of four separate
realising the full potential of the strong position tunity disclosure stage (teaser), referring to the tranches with a 4.3% weighted average cost of
which the Group is now in.” sale of the totality of its stake in the Uruguá and debt, a 14-year post-completion maturity for the
Trinity Exploration & Production, September 15 Tambaú fields, belonging to the BS-500 conces- ECA covered tranches and a 15-year post-com-
2021 sion, located in the Santos Basin, in the state of pletion maturity on the uncovered tranches.
Rio de Janeiro. FPSO Sepetiba is owned and operated by a
The teaser, which includes key information special purpose company owned by affiliated
INVESTMENT about the opportunity, as well as the eligibility companies of SBM Offshore (64.5%) and its
criteria for the selection of potential participants, partners (35.5%). The vessel has a processing
Petrobras starts binding is available on the Petrobras’ Investor Relations capacity of up to 180,000 barrels per day (bpd)
website. The main subsequent stages of the pro-
of oil, a water injection capacity of 250,000 bpd,
phase of Deten Química ject will be reported to the market in due course. associated gas treatment capacity of 12mn cubic
This disclosure is in accordance with Petro-
meters per day and a minimum storage capacity
Petrobras, following up on the release disclosed bras’ internal rules and with the provisions of of 1.4mn barrels of crude oil. The FPSO will be
on June 28, 2021, informs that it has concluded the special procedure for assignment of rights to spread moored in approximately 2,000 metres
exploration, development and production of oil, water depth.
natural gas and other fluid hydrocarbons, pro- FPSO Sepetiba will be deployed at the Mero
vided for in Decree 9,355/2018. field in the Santos Basin offshore Brazil, 180 km
This transaction is in line with the company’s offshore Rio de Janeiro. The Libra block, where
strategy of portfolio optimisation, debt reduc- the Mero field is located, is under Production
tion, and capital allocation improvement, as it Sharing Agreement to a Consortium com-
increasingly concentrates its resources in world- prised of Petrobras, as the Operator, with 40%,
class assets in deep and ultradeep waters, where Shell Brasil with 20%, TotalEnergies with 20%,
Petrobras has shown a great competitive edge CNODC with 10% and CNOOC Limited with
over the years. 10% interest. The Consortium also has the par-
About Uruguá e Tambaú fields: The Uruguá ticipation of the state-owned company Pré-Sal
and Tambaú fields belong to the BS-500 con- Petróleo SA (PPSA), as manager of the Produc-
cession, which was acquired through the Zero tion Sharing Contract.
Round of the National Agency of Petroleum, SBM Offshore, September 16 2021

Week 37 16•September•2021 www. NEWSBASE .com P15