Page 13 - LatAmOil Week 50 2019

LatAmOil
NEWS IN BRIEF
LatAmOil
The Petreven H-205 rig will now mobilise to the company’s Campo Limite well in the Palermo Aike concession of the Santa Cruz Sur asset. This well remains on course to spud before the end of December
Echo Energy, December 12 2019
MIDSTREAM
Petrobras discloses teaser for sale of its stake in TAG
Petrobras reports that it has started the oppor- tunity disclosure stage, relating to the sale of its remaining stake (10%) in Transportadora Asso- ciada de Gás (TAG).
The teaser, which contains key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the Petrobras website. Upcoming key steps of the project will be communicated to the market in a timely manner.
TAG is a company operating in the natural gas transportation industry, currently holding long-term permits to operate and manage a 4,500 km gas pipeline system, located mainly in the North and Northeast regions of Brazil, with installed capacity of 75mn cubic metres per day.
The group formed by ENGIE and the Cana- dian fund Caisse de Dépôt et Placement du Québec has a 90% stake in TAG, acquired from Petrobras earlier this year in June.
Petrobras, December 11 2019
SERVICES
Maersk Drilling awarded
three-well contract
offshore Trinidad by BP
Maersk Drilling has secured a three-well con- tract for the semi-submersible rig Maersk Dis- coverer with BP for development drilling at the Matapal project offshore Trinidad and Tobago. The contract has an estimated duration of 322 days and is expected to commence in July 2020. The value of the firm contract is approximately $78mn, including a mobilisation fee. The con- tract contains an additional one-well option.
“It is obviously exciting for us to see Maersk Discoverer go to Trinidad for BP, for whom the rig has performed successful operations off- shore Egypt for the last six years, including the shallowest water well ever drilled in dynamic positioning mode for both BP and Maersk Drilling which delivered significant cost savings to the customer. We are very pleased that BP is
recognising Maersk Discoverer’s qualities by re-signing the rig for this new campaign,” says COO Morten Kelstrup of Maersk Drilling.
The Maersk Discoverer is a DSS-21 col- umn-stabilised dynamically positioned semi-submersible drilling rig, able to operate in water depths up to 10,000 ft. It is currently oper- ating offshore Egypt.
Maersk Drilling, December 16 2019
SBM Offshore divests
minority interest in
FPSO Sepetiba project
Following the announcement on December 11, 2019, with respect to the contract signature for FPSO Sepetiba, SBM Offshore is pleased to announce that it has entered into a shareholder agreement with its long-standing business part- ners Mitsubishi Corp. (MC) and Nippon Yusen Kabushiki Kaisha (NYK) regarding the divest- ment of a 35.5% interest in the special purpose companies related to the lease and operation of FPSO Sepetiba.
MC acquired 20% and NYK acquired 15.5% ownership interest in the companies. SBM Off- shore is operator and majority shareholder with the remaining 64.5% ownership interest.
FPSO Sepetiba is currently under construc- tion. The FPSO will be deployed at the Mero field in the Santos Basin offshore Brazil, 180 kilometers offshore Rio de Janeiro, under a 22.5 years lease and operate contract with Petróleo Brasileiro (Petrobras). Delivery of the FPSO is expected in 2022.
The financial effects from this divestment were anticipated in SBM Offshore’s full year 2019 guidance provided in this year’s third-quarter
trading update.
SBM Offshore, December 13 2019
FINANCE
Petrobras announces
BNDES’ plan to evaluate
sale of common shares
Petrobras informs that it has received corre- spondence from Banco Nacional de Desenvolvi- mento Econômico e Social (“BNDES”), in which it communicates the intention to evaluate the sale up to the totality of common shares issued by Petrobras in its ownership, through a second- ary public offering of shares with broad distribu- tion efforts in Brazil and abroad in accordance with applicable registration exemptions.
The BNDES approved the beginning of a selection process for hiring advisors for the transaction. In addition, BNDES has also started studies to detail its terms and conditions, includ- ing the amount of shares issued by the company subject to the transaction and its schedule, which will be defined in a timely manner and commu- nicated to Petrobras.
Thus, the BNDES requests the co-operation of the company and its executives, in order to implement the transaction, including the avail- ability of information and documents necessary for the completion of the transaction, pursuant to article 47 of Instruction 400/2003 of the Bra- zilian Securities and Exchange Commission.
As of November 30, 2019, BNDES held 734,202,699 Petrobras common shares, repre- senting about 10% of the total common shares. Petrobras, December 13 2019
Week 50 19•December•2019
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