Petrobras looks at opportunities to become a gas exporter

Sept 23, 2019

Petrobras looks at opportunities to become a gas exporter, says Petrobras’ institutional relations director Roberto Ardenghy, the company sees potential to become a liquefied natural gas (LNG) exporter in the future. Today, Brazil is an importer of this product.

The executive stressed that the state-owned company expects a “very large” increase in production in the coming years, and that the company must “think about what to do with this oil and gas in the future”.

“We are looking at the gas market. There will be a surplus of gas to be traded [in the coming years], both in the Brazilian market, but also looking at the international market as a player, eventually as a LNG supplier, ”he said, during his participation at the Brazilian Institute of Finance Executives Forum (Ibef). ) of Oil and Gas.

Ardenghy mentioned that the company expects to put the P-68 platform into operation in the coming months. The unit left this week from Jurong Aracruz Shipyard, in Espírito Santo, to the Berbigão and Sururu fields, in the Santos Basin pre-salt. Production of these fields is expected to begin in the fourth quarter of 2019.

Auctions

Petrobras’ institutional relations director, Roberto Ardenghy, said  that the company looks with “very close attention” to the participation in the next deep and ultra deep water auctions.

The National Petroleum Agency (ANP) plans to hold, between October and November, the 16th Round of concessions, the 6th Round of pre-salt sharing and the Transfer of Rights surplus auctions .

The executive stressed that the state-owned company is focused on investing in deep water as a way to increase the profitability of its business.

In this sense, he said, the divestment program is a normal strategy for oil companies and “there is nothing wrong” in the company’s decision to dispose of lower-yielding assets and focus on offshore exploration and production. “Petrobras is not inventing anything [with the asset sale program],” he said.

Ardenghy also said that the company has received “huge interest” from national and international companies for the assets for sale by the company. “The receptivity has been excellent,” said the executive.

He highlighted the plan to sell eight of 13 refineries as one of the company’s main divestment efforts. “We will maintain a strong presence in the Southeast [in refining], this is a strategic objective of Petrobras, he said.

The executive explained that the sale of assets is important for the company’s deleveraging. According to him, Petrobras is committed to regaining its position as an investment grade. “We believe we will achieve this over time. It’s a basically financial and economic endeavor. ”

Source: Valor Online