Page 14 - LatAmOil Week 40 2021

LatAmOil NEWS IN BRIEF LatAmOil

purchase and sale agreements. The Landulpho challenging construction activities, and we are Argentina.
Alves (RLAM) and Isaac Sabbá (REMAN) refin- focusing on safety and quality of works.” Pursuant to the Proposed Transaction,
eries have already had their purchase and sale Drydocks World, October 5 2021 Humble will purchase all of the MEA mem-
agreements signed. bership interests in consideration for Humble’s
Petrobras reinforces its commitment to com- assumption of all liabilities with respect to MEA
prehensive transparency of its divestment pro- INVESTMENT except for any liabilities related to Centaurus’
jects and portfolio management and informs interests in the Coirón Amargo Sur Este (CASE)
that the subsequent stages of the projects in pro- Petrobras releases hydrocarbons area, located in the Province of
gress will be disclosed to the market. Neuquén, the Curamhuele hydrocarbons area,
Petrobras, October 1 2021 teaser of E&P assets located in the Province of Neuquén, any liabili-
ties related to any incentive plans, stock options
in the Gulf of Mexico or any other benefits granted to any employees
SERVICES or officers of MEA by Centaurus or its affili-
Petrobras informs that it has started the oppor- ates, and any liabilities relating to MEA’s affili-
FSO conversion project tunity disclosure stage (teaser), regarding the ation with Alejandro Augusto Peñafiel and José
sale of the entire 20% stake held by its subsidiary David Peñafiel. All rights and causes of action
launches at Drydocks World Petrobras America Inc. (PAI) in the company of MEA arising against any and all prior direc-
MP Gulf of Mexico, (MPGoM), located in Texas, tors and officers of Centaurus will remain with
First steel has been cut as part of the latest ship USA, which owns offshore fields in the Gulf of Centaurus.
repair and conversion project at Drydocks Mexico. In addition to conditions usual to transac-
World. The teaser, which includes key information tions of this nature, the Proposed Transaction
Drydocks World Dubai, part of DP World, about the opportunity, as well as the eligibility will be subject to the fulfillment of the following
has begun work converting an Aframax tanker criteria for the selection of potential participants, conditions precedent on or before December
capable of storing 700,000 barrels of oil to a is available on the Petrobras Investor Relations 31, 2021 (i) the closing of the sale of the working
Floating Storage and Off-loading Unit (FSO). website. The main subsequent stages of the pro- interest of MEA in the CASE block to Pan Amer-
The extensive modification and life exten- ject will be reported to the market in due course. ican Energy, Argentine Branch (PAE), which
sion work will include the provision of a new This disclosure is in accordance with Petro- was previously announced on April 28, 2021,
hull coating, designed to make the FSO’s per- bras’ internal rules. This transaction is in line including the transfer to Centaurus of a certain
formance reliable for uninterrupted service with the company’s strategy of portfolio opti- overriding royalty in the amount of $25mn to
for next 20 years for offshore operation. Other misation, debt reduction, and capital allocation be paid to MEA under the terms and conditions
work includes fabrication and installation of an improvement, as it increasingly concentrates described in the CASE assignment to PAE, and
external turret for weather waning, helideck fab- its resources in world-class assets in deep and (ii) the settlement between the Province of Neu-
rication and integration, metering skid, modifi- ultradeep waters in Brazil, where Petrobras has quén and MEA of the liabilities relating to the
cation to cargo system, Installation of Hose Reel shown a great competitive edge over the years. Curamhuele block.
& Crane. About MPGoM: It is a Joint Venture Com- The effect of the Proposed Transaction will
Drydocks World COO Neil Millar com- pany (JV) with an 80% stake from Murphy be that, upon completion, the Company will
mented: “Today is an important milestone for Exploration & Production Company and 20% have transferred indirectly all of its conven-
Drydocks World as we begin work on a ten- from PAI, created in October 2018, with the tional oil and gas assets and related liabilities
month project for our customer, Dixstone, con- contribution of all oil and natural gas assets in to Humble, retaining only the PAE ORRI while
tractor of Oil Company Perenco Petroleo e Gas production, located in the Gulf of Mexico, of liabilities relating to CASE and/or Curamhuele
do Brasil. With our extensive industry knowl- both companies. will have settled as a condition to closing of the
edge, world class facilities and talented team of MPGoM holds participation as operator or Transaction.
engineering experts Drydocks World is a trusted non-operator in 14 offshore fields in the Gulf of Euro-Latin Capital is acting as the financial
partner to the shipping and offshore oil & gas Mexico. Petrobras’ share of the fields’ produc- advisor to Centaurus. MBP Partners and Tin-
industry, delivering projects safely, on time and tion in the first half of 2021 was 11,300 bpd of oil gle Merrett LLP are acting as legal counsel to
to the highest standards.” equivalent (boe). Centaurus.
Drydocks World has recently launched a dig- Petrobras, October 4 2021 Centaurus is an independent upstream oil
ital transformation project to deliver operational and gas company with both conventional and
efficiencies and improved customer services. Centaurus Energy to transfer unconventional oil and gas operations in Argen-
Drydocks World CEO Rado Antolovic said: tina. The Company’s shares trade on the TSX
“Our people will be better equipped to do their all conventional oil and gas Venture Exchange under the symbol CTA and
jobs by working with real-time data, integrative on the OTCQB under the symbol CTARF.
platforms and improved knowledge-sharing that assets to Humble Energy Centaurus Energy, September 27 2021
will enable them to focus on the areas of their
expertise.” Centaurus Energy is pleased to announce that
Dixstone commented: “After several months it has entered into an agreement with Humble
of engineering, and procurement works for Energy, an oil and gas corporation based in
DIXSTONE team, it is a great achievement to Argentina controlled by Humble Energy Inc,
see today the first steel cut in Drydocks World whereby Humble will purchase all of the issued
Dubai as part of FSO PARGO conversion pro- and outstanding membership interests in the
ject. Together with Dubai Drydocks World we capital of Madalena Energy Argentina (MEA),
are now entering several months of intense and the Company’s operating subsidiary based in

P14 www. NEWSBASE .com Week 40 08•October•2021