CEO

HIGH PRESSURE OF CARCARÁ INFLUENCED SALES OF THE AREA TO STATOIL

Apr 6, 2017

The Carcará field is considered one of the jewels of the  pre-salt, due to huge estimates of oil reserves, and left the hands of Petrobras recently to be controlled by the Norwegian Statoil, which bought 66% of the asset for $ 2.5 Billion, but according to the president of Petrobras, Pedro Parente, it was not only the need for cash that led to the sale.

“[Carcará] is a field in the pre-salt that has very good perspective of oil production. But why did we sell then? Because this field has characteristics that disregard [our portfolio], that is, it is not similar to the other fields of the pre-salt. For example, it has a much higher pressure than the other pre-salt fields. So we would need different equipment. The Christmas trees would have to be able to withstand a much greater pressure than our equipment supports, ”

According to Parente, the decision was made to “improve the portfolio” of the company, maintaining “the best fields” and the conditions to invest in them.

“If we stayed [with Carcará], we would not only stop receiving the US $ 2.5 billion, but we would still have to invest with our partners a very large number, about US $ 10 billion.”

In addition, Parente stated that the search for partners for projects – which is not the case of Carcará, since the company has disbanded all the participation in the area – has a third objective: the reduction of the exploratory risk and the high standard of partners.

“These companies have very high standards of governance and compliance. Therefore, this in itself imposes a very high discipline on the company. Petrobras needs to keep up with the partners. “

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