10/25/2019
Petrobras intends to use the R $ 34 billion it will receive from the Federal Government from the auctiont of the Transfer of Rights, scheduled for November 6. The auction will offer the right to extract oil and gas in areas in the pre-salt polygon granted to Petrobras in 2010.
Chief Financial and Investor Relations Officer Andrea Almeida said that the company expects to receive funds later this year from the Union.
According to an agreement signed in 2010, Petrobras has the right to extract up to five billion barrels of oil equivalent from these areas, which are part of the Pre-Salt Polygon. As volumes exceeding this limit were discovered, the National Energy Policy Council this year authorized the National Petroleum Agency to bid for this sharing surplus, which will happen on November 6 and could generate more than R $ 100 billion in total in signing bonus.
“There is interest, several companies signed up to participate in the auction,” said the director. “We know the region very well, so we believe it is a good exploratory field.”
The director evaluated the financial reports released on the 24th and pointed out that production increased 9.3% in the period, when there was a 10% drop in oil prices. “We also had higher volumes in refining, especially diesel,” she said, who found the results “very positive.”
The drop in pre-salt production costs to $ 5 a barrel was celebrated by company executives, who also drew attention to the reduction in debt. “It is a significant milestone in the quarter. We were able to reduce Petrobras’ debt by $ 11 billion to $ 90 billion.”
Regarding the divestment program, the director said that Petrobras has already reached the goal of selling about R $ 15 billion in assets this year, and reached R $ 15.3 billion, of which R $ 13.3 billion is already at the company
Source: Agencia Brasil.
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