Petrobras sets off sales of fields, facilities and gas pipelines in ES


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Petrobras sets off sales of fields, facilities and gas pipelines in ES

Petrobras, the semi-public, Brazilian petrochemical company headquartered in Rio Di Janeiro, had started off selling process of 100 percent of its stake in Cangoá and Peroá production fields alongside BM-ES-21 concession, a source with knowledge regarding the issue had revealed on Friday, the 5th of June 2019.

In fact, earlier in June, the Brazilian state-controlled multinational hydrocarbon giant had said that the sales would include production alongside outflow facilities and land pipelines of its holding in Cangoá and Peroá production fields, whose recent production was about 9,00,000 cubic meter of non-oil gas per day in shallow water, but, 88.9 percent of its exploration block, BM-ES -21 was located in deep water.

Aside from that, latest sale of Petrobras’ Cangoá and Peroá production fields alongside some exploration facilities and pipelines, had been a part of billion-dollar divestment plan aimed at raising up to $35 billion between 2019-2023 in order to downsize some of Brazilian oil giant’s debt-pile, Petrobras’ latest estimate released on June had revealed.

Apart from that, following the reveal of estimate, a Petrobras spokesman had been quoted saying that the fund-raising attempt through sales of some of its critical oil properties was targeted to center its focus on exploration and production of gas and oil in ultra-deep and deep waters.