Page 13 - LatAmOil 32

LatAmOil
NEWS IN BRIEF
LatAmOil
PIPELINES & TRANSPORT
NG Energy begins sending
gas production to Maria
Conchita gas plant
NG Energy International Corp. (NGE) is pleased to announce that after completing the connection point to the Colombian National Gas Transportation System (SNTE) through TGI (Transportadora de Gas Internacional) located in the Ballena-Barrancabermeja pipeline at La Guajira, northern part of Colombia, spe- cific point: SNT TGI PK 33+130, the Company has initiated delivering gas from the Istanbul Platform where the Aruchara 1 and the Istanbul 1 wells are connected. This plant has begun the stabilisation process and injection of the gas into the SNTE initially from the Aruchara-1 well.
As previously announced in May, the Com- pany received an initial advance payment for the first 15 days of production from the María Conchita block. Energy Transitions SA.S E.S.P. and Plus + SAS E.S.P.’s prepayment for the acqui- sition of 3.5mn cubic feet per day of gas at a price of $5.08 per mmBtu, which totals $277,368, for 80% of the gas production volume from the María Conchita field during this initial period.
In accordance with the agreement with Energy Transitions SA.S E.S.P. and Plus + SAS E.S.P. the Company will sell 80% of the total gas production from the Aruchara 1 and Istanbul 1 well estimated at 16 mcf per day for an inter- ruptible gas supply period until December 2022 for $5.08. In December, the Company will par- ticipate in entering in a firm uninterruptible gas contract. An uninterruptible gas contract should provide a stable contract at more favora- ble prices.
CEO of NGE Serafino Iacono commented “We are pleased to finally, after many delays caused by negotiations with communities and
interruptions generated from the COVID 19 pandemic, to have finally hooked up. We are ready to deliver gas to our customers and gener- ate steady cash flow for the Company for many years to come.”
About NG Energy International Corp.: NG Energy International Corp. is a publicly traded E&P company on a mission to provide a clean and sustainable solution to Colombia’s energy needs. The Company intends on executing this mission by producing and bringing gas to the premium priced Colombian gas market from its concessions, SN-9, a 311,353-acre block which is adjacent to Canacol’s Nelson field, as well Maria Conchita, a 32,518-acre block located in the region of La Guajira. NGE’s team has extensive technical expertise and a proven track record of building companies and creating value in South America.
NG Energy International, August 8 2022
INVESTMENT
Petrobras concludes
sale of onshore fields
in Ceará state
Petrobras, following up on the release dis- closed on August 14, 2020, informs that it has concluded today the sale of all its stakes in the onshore fields of Fazenda Belém and Icapuí, jointly called Fazenda Belém Cluster, located in the Potiguar Basin, in the state of Ceará to 3R Fazenda Belém SA, previously called SPE Fazenda Belém SA.
After compliance with the preceding con- ditions, the operation was concluded with the payment at sight of $4.6mn to Petrobras, already with the adjustments provided for in the con- tract. The amount received today is in addition to the $8.8mn paid to Petrobras on the date the purchase and sale agreement was signed. In
addition to this amount, the company will also receive $10mn, within one year after the closing of the operation, which will be adjusted based on the conditions foreseen in the purchase and sale agreement.
This disclosure is in accordance with Petro- bras’ internal rules and with the provisions of the special procedure for assignment of rights on exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.
This transaction is in line with the compa- ny’s portfolio management strategy and the improved allocation of its capital, aiming to maximise value and provide greater return to society. Petrobras is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown a great competitive edge over the years.
About Fazenda Belém Cluster: The Cluster comprises the onshore fields of Fazenda Belém and Icapuí, located in the state of Ceará, where Petrobras holds 100% stakes. The average pro- duction of the Fazenda Belém Cluster from Jan- uary to July 2022 was approximately 575 barrels per day (bpd) of oil.
About 3R Fazenda Belém SA: 3R Fazenda Belém SA is a company focused on the redevel- opment of mature and producing fields, a wholly owned subsidiary of 3R Petroleum Óleo e Gás SA, a company listed on B3 New Market. Petrobras, August 5 2022
PERFORMANCE
Petrobras signs addendum to gas contract with YPFB
Petrobras, following up on the release disclosed on May 24, 2022, informs that it has celebrated a new addendum to the natural gas purchase contract with Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).
Week 32 10•August•2022
w w w . N E W S B A S E . c o m
P13