Petrobras concludes the sale of seven onshore fields

After all the precedent conditions were met, the transaction was concluded with the payment of R$676.8 million to Petrobras, with the adjustments provided for in the contract.

This operation is in line with the strategy of optimising the portfolio and improving the allocation of the company's capital, starting to increasingly concentrate its resources in deep and ultra-deep waters, where Petrobras has demonstrated a great competitive differential over the years.

For the executive manager of Portfolio Management at Petrobras, Ana Paula Saraiva, the divestment of Petrobras has attracted new participants to the industry, bringing more dynamism to the sector. “It is great news for Petrobras, for 3R-Starboard, for the onshore sector and for the market in general. A good time to have good news.”

Starboard partner (controlling shareholder of 3R), Paulo Thiago Mendonça, talks about plans for the state of Rio Grande do Norte: “The sale of onshore and shallow water assets is a very healthy strategy for Petrobras and creates opportunities for new entrants in the sector, who will be able to prioritise their resources generating value for the region and the country.”

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/01062020/petrobras-concludes-the-sale-of-seven-onshore-fields/