Page 11 - LatAmOil Week 36 2021

LatAmOil BRAZIL LatAmOil

Atlanta lies in the shallow-water section of the handling 50,000 bpd of oil.
Santos basin off Brazil’s south-eastern coast, and The company is currently the only share-
it is believed to contain around 1.3bn barrels of holder in the Atlanta field, which lies within a
oil in place (OIP). licence area known as Block BS-4. It recently
Enauta has said it wants to expand the field’s completed the acquisition of a 50% stake from
production system by drilling 12 more wells its former partner – Barra Energia, another Bra-
and attaching them to another FPSO capable of zilian independent. ™

Brazil gives Petrobras green light to

transfer 50% of Rabo Branco to Petrom

BRAZIL’S National Agency of Petroleum, Nat- Perenco (UK/France). Petrobras is now hoping
ural Gas and Biofuels (ANP) has approved the to attract other investors to the sale of the Alba-
transfer of state-run oil and gas major Petrobras’ cora and Albacora Leste oilfields in the Cam-
50% stake in Rabo Branco, an onshore field in pos basin, which produce 77,000 barrels of oil
the Sergipe-Alagoas basin, to the Petrom Pro- equivalent per day (boepd), and has reportedly
dução de Óleo e Gás consortium. received bids from several consortia.
Petrom, a special purpose company (SPV) In 2019, the state-owned Petrobras said it
formed by the power company Ecom Group to was planning to sell $20-30bn worth of assets,
manage activities at Rabo Branco, already has including eight Brazilian refineries, in the 2020-
a 50% stake in the field and is acting as opera- 2024 period. However, the crash in crude prices
tor. It has now exercised its right to acquire the last year, along with the general slowdown of
remaining stake in the asset, which is located on the world’s economy as a result of the corona-
the Atlantic coast in north-eastern Brazil, in Ser- virus (COVID-19) pandemic, has slowed the
gipe, Brazil’s smallest state. pace of the divestment campaign over the last
The Rabo Branco field, which forms part of 18 months. ™
the BT-SEAL-13 block, is positioned south of
the Carmópolis field. Its average production last
year was 131 barrels per day (bpd) of oil.
Petrobras is unloading its stake in the field in
line with its divestment strategy, which calls for
selling off non-core assets in order to cut costs
and boost capital. The strategy aims to help the
cash-strapped firm focus its resources on deep-
water and ultra-deepwater fields, particularly in
the pre-salt sections of the Santos and Campos
basins.
The company’s divestment programme has
given a number of small and medium-sized oil
companies the chance to enter Brazil’s oil sector,
including local firms such as Trident Energy and
Karavan Oil, as well as foreign entities such as Rabo Branco is in the Sergipe-Alagoas basin (Image: Petronoticias)

PARAGUAY
Asunción OKs Pirity farm-out agreement

AIM-LISTED President Energy said last week agencies in Paraguay for the planned sale of the
that Paraguay’s government had given a green 50% stake within the period specified in its con-
light to its plan to sell half of its 100% stake in the ditional farm-out agreement. Additionally, it
Pirity concession via a farm-out deal. said that Paraguayan authorities had granted its
In a statement, President reported that it had request for an extension of the term of the explo-
secured the approval of the relevant regulatory ration licence covering Pirity.

Week 36 09•September•2021 www. NEWSBASE .com P11