Page 14 - LatAmOil Week 05 2022
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LatAmOil                                     NEWS IN BRIEF                                          LatAmOil








                                           the Bacalhau field (former Carcará area). The  concessions, called the Urucu Cluster, located in
       INVESTMENT                          remaining amount of $475mn will be paid on  the Solimões Basin, in the state of Amazonas.
                                           February 10, 2022.                     Despite the efforts made by both companies
       Petrobras expresses                 of the Production Individualization Agreement  was not possible to converge on an agreement
                                              This receipt was conditioned to the approval  in this process, throughout the negotiation, it
       interest in areas under PSA         (AIP) for the Bacalhau and Norte de Bacalhau  in certain critical conditions, and it was decided
                                           fields by the National Petroleum, Natural Gas,  to close the negotiations in progress, without
       Petrobras informs that today it expressed to the  and Biofuels Agency (ANP), which occurred on  any penalties for either party. Therefore, Petro-
       National Energy Policy Council (CNPE) the  December 9, 2021.             bras has decided to end the current competitive
       interest in the right of first refusal in blocks to   Petrobras sold its total stake (66%) in block  process and will evaluate the best alternatives for
       be bid in the Permanent Offer System, under the  BM-S-08 to Equinor, for $2.5bn. At the closing  these concessions.
       Production Sharing Agreement, pursuant to Law  of the operation, the company received $1.25bn,   Petrobras reinforces its commitment to com-
       12,351/2010 and Federal Decree 9,041/2017.  and at the signing of the sharing contract for the  prehensive transparency of its divestment pro-
         The company’s Executive Board approved the  Norte de Bacalhau block, it received $300mn,  jects and portfolio management and affirms its
       expression of interest in the preemptive right in  totaling $1.55bn.     focus on deepwater and ultra-deepwater assets,
       the areas of Água Marinha and Norte de Brava,   The result of the third installment will be rec-  where it has shown a great competitive edge over
       located in the Campos Basin, with a percentage  ognized in the financial statements for Q4-2021.  the years, with high productivity and with lower
       of 30%, considering the parameters disclosed in   Petrobras, February 1 2022  greenhouse gas emissions.
       CNPE Resolution No. 26, of December 9, 2021,                             Petrobras, January 28 2022
       published on January 5, 2022.       Rockhopper announces
         The expression of interest is in line with
       the company’s Strategic Plan, with a focus on   Sea Lion update          PERFORMANCE
       deep and ultra-deep-water assets, where it has
       demonstrated great competitive edge over the  Rockhopper Exploration, the oil and gas explo-  GeoPark announces
       years, producing better quality oil and with  ration and production company with key inter-
       lower greenhouse gas emissions.     ests in the North Falkland Basin, has announced   consolidated 2021 certified
       Petrobras, February 3 2022          that Rockhopper, Harbour Energy and Navitas
                                           Petroleum have extended the provisions of the   2P reserves of 159mn boe
       Petrobras receives last             previously signed heads of terms (announced
                                           on December 8, 2021) from January 31, 2022, to  GeoPark, a leading independent Latin American
       instalment of the sale of           March 31, 2022, with a view to signing definitive  oil and gas explorer, operator and consolidator,
                                           documentation on the transaction by this date.
                                                                                today announced its independent oil and gas
       BM-S-8 block to Equinor             Rockhopper Exploration, February 1 2022  reserves assessment, certified by DeGolyer and
                                                                                MacNaughton (D&M), under PRMS methodol-
       Petrobras, following up on the releases disclosed   Petrobras reports on   ogy, as of December 31, 2021.
       on November 22, 2016, March 21, 2018, and                                  All reserves included in this release refer to
       December 9, 2021, informs that it has received   divestment of Urucu Cluster  GeoPark working interest reserves before roy-
       from Equinor Brasil Energia the amount of                                alties paid in kind, except when specified. All
       $475mn, equivalent to half of the third install-  Petrobras informs that it has unsuccessfully con-  figures are expressed in US Dollars.
       ment related to the sale of its stake in the  cluded negotiations with Eneva for the sale of all   2021 Year-End D&M Certified Oil and Gas
       exploratory block BM-S-8, in which is located  of its interest in a set of seven onshore production  Reserves and Highlights. Building on GeoPark’s
                                                                                core base in the Llanos 34 (GeoPark operated,
                                                                                45% WI) and CPO-5 (GeoPark non-operated,
                                                                                30% WI) blocks, the Company reports Colom-
                                                                                bia Reserves as follows.
                                                                                  PD Reserves: Proven developed (PD)
                                                                                reserves in Colombia of 49.9mn boe, with a PD
                                                                                reserve life index (RLI) of 4.4 years. 1P Reserves:
                                                                                Proven (1P) reserves in Colombia of 82.2mn
                                                                                boe, with a 1P RLI of 7.2 years. Net present value
                                                                                after tax discounted at 10% (NPV10 after tax) of
                                                                                1P reserves of $1.3bn. 2P Reserves: Proven and
                                                                                probable (2P) reserves in Colombia of 135.8mn
                                                                                boe, with a 2P RLI of 11.9 years. NPV10 after tax
                                                                                of 2P reserves of $2.0bn. 3P Reserves: Proven,
                                                                                probable and possible (3P) reserves in Colom-
                                                                                bia of 211.0mn boe, with a 3P RLI of 18.5 years.
                                                                                NPV10 after tax of 3P reserves of $2.9bn.
                                                                                  Development Capital: Future development
                                                                                capital to develop 1P, 2P and 3P reserves in
                                                                                Colombia of $1.9 per barrel, $1.7 per barrel and
                                                                                $1.6 per barrel, respectively.



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