Page 11 - LatAmOil Week 16 2021

LatAmOil BRAZIL LatAmOil

This section includes the Mero field, which is the appear to be receptive to the idea of change, he
third-largest producing site in the pre-salt por- said.
tion of Brazil’s offshore zone. “I perceive that the government is inter-
Shell Brasil, the Royal Dutch Shell (UK/ ested in listening to companies,” he was quoted
Netherlands) subsidiary that is participating in as saying by S&P Global Platts. “Companies
the Libra project, has confirmed the consorti- have expressed concerns about Brazil’s ability
um’s plan. Andre Araujo, the president of the to compete in the global market, and the con-
Shell affiliate, said during a webinar last week ditions have changed from what was seen in
that the group did not intend to reduce the size 2017-2019.”
of its licence area but would continue with the Equity in the Libra project is split 40% to
development of the Mero field. Petrobras, 20% to Shell Brasil, 20% to a local
Araujo also remarked that the Libra group’s unit of Total (France), 10% to a subsidiary of
decision highlighted the need for ANP to offer China National Offshore Oil Corp. (CNOOC)
better terms to investors participating in future and 10% to a subsidiary of China National
licensing rounds, especially in light of the shake- Petroleum Corp. (CNPC). Pré-Sal Petróleo SA
ups that the global oil and gas industry suffered (PPSA), a state-owned marketing concern that
in 2020. represents Brazil’s federal government in con-
Several international oil companies (IOCs) sortia, is serving as manager of the group’s pro-
have made this point, and Brazilian authorities duction-sharing contract (PSC). ™

The acquisition of Hygo gives NFE control over the Golar Nanook FSRU (Image: Golar Power)

NFE expands Brazilian portfolio by

completing acquisition of Hygo, GMLP

US-BASED New Fortress Energy (NFE) has amount paid for this asset.
expanded its Brazilian gas portfolio by success- The combined value of these two deals
fully completing the acquisition of Hygo Energy amounts to $5.1bn in enterprise value and
Transition, a 50:50 joint venture between Ber- $2.43bn in equity value, the statement said.
muda-registered Golar LNG and a subsidiary This acquisition of Hygo gives NFE control
of the US private equity fund Stonepeak Infra- over that company’s assets in Brazil – including
structure Partners, and of Golar LNG Partners the Golar Nanook, a new-build floating storage
(GMLP). and regasification unit (FSRU) that is being used
In a statement, NFE said its consideration to import LNG via the port of Sergipe.
for Hygo had consisted of $580mn in cash They also include a 50% stake in a 1,500-MW
and 31,372,549 shares of its own stock. It also thermal power plant (TPP) known as Centrais
reported that it had paid cash for 100% of shares Eletricas de Sergipe (Celse) that burns gas
in GMLP, with the price set at $3.55 per share imported via the FSRU under a 26-year supply
of common stock, but did not reveal the exact agreement,

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