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Petrobras: Sale of Azulão Field

Published by
Oilfield Technology,

Petrobras has announced that it has signed, with the company ENEVA SA, through its subsidiary Parnaíba Gás Natural SA, the contract for the assignment of the totality of its participation in the Azulão Field (Concession BA-3), located in the state of Amazonas.

The total amount of the operation is US$ 54.5 million and will be paid on the closing date of the deal.

The transaction is part of the 2017 - 2018 Partnerships and Divestments Program and is in line with Petrobras' portfolio management policy, which prioritises investments in assets with greater potential for short-term operational generation and greater possibility of capital optimisation and economies of scale.

The completion of this deal is subject to the fulfilment of usual precedent conditions, including approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP) and by the Administrative Council for Economic Defence (CADE).

The disclosure to the market herein is in compliance with Petrobras' divestment methodology and is aligned with the guidelines of the Federal Accounting Court (TCU – Tribunal de Contas da União).

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