Petrobras’ divestment plan will be reinforced

Nov 12, 2019

Petrobras’ divestment plan will gain reinforcement of major exploration and production assets, especially in the Campos Basin. The new strategy began to be reviewed by the E&P area in partnership with the Portfolio Management Executive Management following the auctions held last week.

The selection of new projects for sale is expected to be completed later this year, with the launch of teasers in 2020. The intention is to include larger deepwater fields. In addition to Campos,  under analysis  the Sergipe-Alagoas and Santos basins.

Petrobras is studying both full and partial disposal of assets – in the latter case, as a way to reduce the need for investment.

The goal is to capitalize the company to meet the work commitments in the areas of Buzios, Itapu and Aram, in the Santos Basin, auctioned in TOR and the 6th round of sharing.

The acquisitions will require Petrobras to spend nearly R $ 70 billion with the payment of signature bonuses alone. In Buzios, the oil company plans to install at least five new large FPSOs. As a result, it had to revise its E&P portfolio to prioritize projects.

Source: Brasil Energia Magazine

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