Page 15 - LatAmOil Week 07 2023

LatAmOil NEWS IN BRIEF LatAmOil

Petrobras awaits the final judgment of the LUB-
NOR sale process by the CADE Court.
Relevant facts on the subject will be timely
communicated to the market.
Petrobras, 08 February 2023
Petrobras reports on

sale of 18.8% stake in

UEG Araucária SA power

sector company

Petrobras, following up on the release disclosed
on December 22, 2022, informs the begin-
ning of the non-binding phase regarding the
sale of its 18.8% stake in the capital stock of
UEG Araucária SA (UEGA), together with its
partners, Companhia Paranaense de Energia increase, for a total of 251.6mn barrels of oil signed a new contract of operation with PRIO
(COPEL) and COPEL Geração e Transmissão equivalent (boe). P1 reserves additions totaled (formerly PetroRio), for 730 days. This time, for
SA, which hold, respectively, 20.3% and 60.9% 87.8mn boe, implying a reserves replacement the West Capricorn rig, which is one of the oil
of the capital stock, totaling the sale of 100% of ratio of 495%. The proved oil and gas reserves company’s assets.
UEGA’s shares. in Vista’s flagship Bajada del Palo Oeste project “The contract is an important milestone
Potential buyers qualified for this phase, were estimated at 186.4mn boe. once it shows a recognition of Ocyan’s techni-
beginning today, will receive a process letter Average daily production during Q4 2022 cal capacity in the market, which is generating
containing detailed information about the asset was 54,718 boepd, a 33% increase year-over- business in the area of operation of third-party
in question, as well as instructions on the divest- year. Oil production was 45,745 bpd during Q4 assets. Winning this contract also reinforces the
ment process, including guidelines for preparing 2022, an interannual increase of 41%. Total pro- strategical position of our company along with
and submitting non-binding proposals. duction in 2022 averaged 48,560 boepd, a 25% independent operators in drilling area, especially
This disclosure is in accordance with Petro- increase year-over-year, of which oil produc- in national market. We can say that our manage-
bras’ internal rules and with the special regime tion was 40,078 bpd, reflecting an interannual ment system became reference once it is becom-
for divestment of assets by federal mixed increase of 32%. ing robust each day. We will work with transfer
economy companies, provided for in Decree The estimated certified future net cash flows of technology, and at the same time, we will put
9,188/2017. attributable to Vista’s interests in the P1 reserves a team with a high degree of specialisation into
This operation is in line with the company’s as of December 31, 2022, evaluated using the action,” highlights Heitor Gioppo, executive VP
strategy of portfolio optimisation and capital regulations established by the SEC1 and dis- of Ocyan’s drilling unit.
allocation improvement, aiming at value max- counted at 10% per annum, were $3.241bn in The activities are expected to start in August
imisation and greater return to society. 2022, which more than doubled from $1.537bn 2023. For the contract execution, 160 jobs are
About UEGA (Usina Elétrica a Gás de in 2021. planned for Ocyan members, all in offshore
Araucária): UEGA is a partnership between “Our year-on-year growth continues to positions (onboard). At the moment, the rig
Copel Group and Petrobras, consisting of a nat- reflect the quality of our core Vaca Muerta acre- is located in Trinidad & Tobago, and it will
ural gas-fired generation plant (combined cycle, age and demonstrates our ability to generate undergo an asset reactivation work upon arriv-
with two gas turbines and one steam turbine) organic and profitable growth,” commented ing in Brazil.
located in Araucária (PR), close to the Boliv- Miguel Galuccio, Vista’s Chairman and CEO, History with PRIO: Ocyan operates with
ia-Brazil gas pipeline (GASBOL). It started oper- and added: “The increase in P1 reserves is a the Norbe VI rig for PRIO since July 2021,
ations in 2002 and has a total installed capacity consequence of our continuous good results in which contract is in force until August 2023 and
of 484 MW. Bajada del Palo Oeste, as well as the ramp-up of includes activities to revitalise the Frade Field
Petrobras, 08 February 2023 our development in the newly acquired Aguada and develop the Wahoo Field, in the Campos
Federal block.” Basin.
Vista Energy, 13 February 2023 The West Capricorn was built in 2011, and it
PERFORMANCE is a sixth generation semi-submersible drilling
rig. It is suitable for both subsea services and
Vista reports 39% PROJECTS & COMPANIES drilling in water lines from 80 metres to 3,000
metres.
annual increase in total Ocyan wins new the opening of the market for new Ocyan shares.
“We can say that this is another step towards
P1 oil and gas reserves contract with PRIO We remain attentive to the opportunities, includ-
ing with regard to new business in third-parties’
Vista Energy has reported its estimated certified for West Capricorn rig assets in Brazil and abroad,” concluded Heitor
proved (P1) oil and gas reserves as of December Gioppo.
31, 2022, which showed a 39% year-over-year Ocyan, a company in the oil and gas industry, Ocyan, 08 February 2023

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