Page 9 - LatAmOil Week 36 2019

LatAmOil
NEWS IN BRIEF
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Petrobras concludes the sale of Maromba field
Petrobras, following up on the press release dated August 3, 2019, reports that it has con- cluded today the sale of its 70% interest in the Maromba eld, located in shallow waters in the Campos Basin, to BW O shore Production do Brasil (BWO).
e transaction was completed with the pay- ment of the rst installment of $20mn to Petro- bras, a er meeting all precedent conditions and adjustments provided for in the contract. e remaining transaction amount, $70mn, will be paid in two installments: $20mn within 15 busi- ness days of the startup of well drilling activities for eld development; and $50mn within three months of the rst oil or three years a er the startup of well drilling activities for eld devel- opment, whichever occurs rst.
is operation is in line with the company’s portfolio optimisation and improvement of cap- ital allocation, aiming at creating value for our shareholders.
e Maromba eld comes from block BC-20 awarded to Petrobras in Round Zero and is located in shallow water south of the Campos Basin, near the Peregrino and Papa-Terra elds that are currently in production. e commer- cial feasibility statement of the eld, which con- tains heavy oil (16 degrees API) and is not yet developed, took place in 2006. BWO became the eld operator a er the acquisition of stakes from Petrobras (operator, owning 70%) and Chevron (30%).
Petrobras, September 10 2019
Petrobras announces start of binding phase for the sale of onshore fields in Cricare Cluster
Petrobras, following up on the release dated June 11, 2019, reports the beginning of the binding phase to sell all of its stakes in 27 onshore explo- ration and production concessions, located in Espirito Santo, jointly called Cricare Cluster.
Quali ed parties for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.
This release complies with Petrobras’ divestment methodology and is aligned with the provisions of the special procedure for the sale of the rights to exploration, development and production of oil, natural gas and other
fluid hydrocarbons, provided for in Decree 9,355/2018.
is operation is in line with the company’s portfolio optimisation and improvement of cap- ital allocation, aiming at creating value for our shareholders.
e Cricare Cluster comprises the conces- sions of Bigua, Cacimbas, Campo Grande, Cor- rego Cedro Norte, Corrego Cedro Norte Sul, Corrego Dourado, Corrego das Pedras, Fazenda Cedro, Fazenda Cedro Norte, Fazenda Quei- madas, Fazenda Sao Jorge, Guriri, Inhambu, Jacutinga, Lagoa Bonita, Lagoa Suruaca, Mariricu, Mariricu Norte, Rio Itaúnas, Rio Preto, Rio Preto Oeste, Rio Preto Sul, Rio Sao Mateus, Sao Mateus, Sao Mateus Leste, Seriema and Tabuiaia elds, located in the state of Espirito Santo, in the municipalities of Sao Mateus, Jag- uare, Linhares and Conceiçao da Barra. Petro- bras is the operator with 100% interest of these elds, which, in 2018, had an average total pro- duction of about 2.8 barrels of oil equivalent per day and 11,000 cubic metres per day of gas. Petrobras, September 06 2019
Petrobras announces start of binding phase for the sale of onshore fields in Reconcavo Cluster
Petrobras, following up on the release dated July 3, 2019, reports the beginning of the binding phase to sell all of its stakes in 14 onshore explo- ration and production concessions, located in the state of Bahia, jointly called Reconcavo Cluster.
Quali ed parties for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and submission of binding proposals.
is release complies with Petrobras’ divest- ment methodology and is aligned 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 uid hydrocar- bons, provided for in Decree 9,355/2018.
is operation is in line with the company’s portfolio optimisation and improvement of cap- ital allocation, aiming at creating value for our shareholders.
The Reconcavo Cluster comprises the 14 onshore concessions of Aratu, Cambacica, Can- deias, Cexis, Dom Joao, Dom Joao Mar, Guan- ambi, Ilha de Bimbarra, Mapele, Massui, Pariri, Sao Domingos, Socorro and Socorro Extensao, located in the state of Bahia, in the municipal- ities of Candeias, Salvador, Santo Amaro, Sao Francisco do Conde, Sao Sebastiao do Passe and Simoes Filho. Petrobras is the operator with
100% interest of these elds. e total average production in 2018 was about 2,800 barrels of oil equivalent per day of oil and 588,000 cubic metres per day of gas.
Petrobras, September 06 2019
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Equinor: We will clean up the Bahamas oil spill
In the a ermath of Hurricane Dorian, there are reports of widespread devastation across the Bahamas. Equinor will clean up the spills from the South Riding Point oil terminal. Resources are being mobilised as quickly as possible to safe- guard people, the environment and the facility.
At the time of arrival of the hurricane, Equinor had 54 personnel on Grand Bahama. All are confirmed safe and accounted for. Employee relief is being provided, including water and food.
e South Riding Point oil terminal has sus- tained damage from the hurricane, and oil has been observed on the ground at the terminal site and in neighbouring areas. e size of the spill is not yet clear.
Based on current visual assessments, there are no indications of continued oil leakage from the tanks or of oil spills from the terminal to sea or beaches. Further examination is ongoing to assess the full impact of the spill.
Security personnel is on site at the terminal working to secure the area and identify potential hazards.
Equinor has secured vessels and equipment for oil spill response in Port Fourchon, Louisi- ana, and from various ports across southeast Florida. Some are now en route, while some are pending customs to be en route as soon as possi- ble. Upon arrival, clean-up and remediation will start immediately.
The equipment mobilised includes skim- mers, oil containment booms, absorbents, pumps, pressure washers and boats.
The situation is complex and challenging, with damage to infrastructure hampering pro- gress in relief and response e orts.
Week 36 11•September•2019
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