Page 11 - LatAmOil Week 21 2021
P. 11
LatAmOil BRAZIL LatAmOil
Brazilian regulator approves more
Petrobras asset transfers
INVESTMENT BRAZIL’S regulator, ANP, has approved the push to sell non-core assets and cut debt, while
transfer of two onshore assets from state-owned sharpening its focus on its prolific pre-salt oper-
Petrobras to private companies. ations offshore. According to BNAmericas, the
This week, the regulator authorised the trans- state-owned company is in the process of selling
fer of the Dó-Ré-Mi field in the Sergipe Basin to its operating stake in around 120 fields across
Centro Oeste Óleo e Gás, Petrobras sold the field several basins, having already sold around 145
in August 2020 for $37.6mn, and it is currently fields since 2019, mostly onshore and in shallow
out of operation. waters, to a variety of buyers.
Separately, ANP also approved the transfer of The company’s efforts have been bolstered
the Remanso hub, in the Recôncavo Basin, to Pet- by strengthening oil prices. Earlier this month,
roRecôncavo. The hub comprises 12 fields in Bahia Reuters cited sources familiar with the matter as
State – Brejinho, Canabrava, Cassarongongo, saying Petrobras had reopened bidding for its
Fazenda Belém, Gomo, Mata de São João, Norte Golfinho offshore oilfield cluster on improved
Fazenda Caruaçu, Remanso, Rio dos Ovos, Rio crude prices.
Subaúma and São Pedro e Sesmaria. PetroRecôn- Separately, PetroRio said earlier in May that
cavo bought the asset in December for $30mn. it was still interested in acquiring the Albacora
The latest data from Petrobras show the 12 field in the Campos Basin from Petrobras, but
fields were producing 3.9 barrels per day (bpd) that it was also looking at other offshore assets.
of oil and 75,000 cubic metres per day of natural PetroRio expects the offer phase for Albacora
gas as of November 2020. to take place in July, according to the company’s
The approvals come as Petrobras continues its earnings call.
PERU
Peru rations gas amid
liquefaction plant outage
PROJECTS & GASES del Pacifico-Quavii, a subsidiary of outlined measures to help deal with the outage,
COMPANIES Colombia’s Promigas and one of Peru’s leading including the authorisation of LNG imports for
natural gas distributors, is rationing supply fol- 60 days. Indeed, Maal said Promigas was con-
lowing an outage at the Peru LNG liquefaction sidering importing LNG from Chile or Ecua-
plant, on which it relies for gas. dor in order to offset the shortage created by the
Argus Media reported this week that the outage.
company was taking steps to ensure supply con- Ecuador is geographically closer, but would
tinues to 135,000 households that it services in be a surprising choice given that it is not an LNG
seven cities in northern Peru. exporter. Chile’s 1.5mn tonne per year (tpy) GNL
“We have implemented supply rationing for Mejillones terminal, operated by France’s Engie,
sectors with the highest levels of gas consump- could be an option as an interim source of sup-
tion,” Promigas Peru’s CEO, Miguel Maal, was ply, but also presents a logistical challenge. The
quoted by Argus as saying. “In order to mitigate terminal is relatively close to cities covered by
the impacts of this situation, which is outside our state-owned PetroPeru in southern Peru, but it
control, we have activated a contingency plan is nearly 1,833 miles (2,950 km) from Chiclayo,
that prioritises service to households as stipu- the northern-most city served by Gases del
lated by the government’s emergency decree.” Pacifico-Quavii.
As a result of the rationing, consumption in Peru LNG went offline in early May, owing
the Gases del Pacifico-Quaviito concession has to a problem with one of its compressors (See
fallen to 2mn cubic feet (56,640 cubic metres) LatAmOil Week 20). Hunt Oil, the majority
per day. shareholder in Peru LNG with a 50% stake, said
The government’s emergency decree, pub- it was working to restore service by the end of
lished on May 13, after Peru LNG went offline, the month.
Week 21 27•May•2021 www. NEWSBASE .com P11
