Brazil’s state-run oil company Petróleo Brasileiro (Petrobras) has confirmed that it has received binding offers for the Urucu cluster located in the interior state of Amazonas.
This comes several months after the company put the onshore assets up for sale as it seeks to reduce debt.
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In a statement, Petrobras said that it has received binding proposals from 3R Petroleum Óleo e Gás and Eneva for the oil and gas cluster. Currently, the company is evaluating the proposals.
Reuters reported that the bids were around $600m and $1bn. The company noted that they are close to the firm instalments of the proposals.
However, the statement added: “Petrobras also informs that it takes into consideration in the analysis of the bids all the components of value and other conditions reflected in the proposals, including firm payments, contingent payments and other relevant contractual conditions, so that the amounts reported in the media do not provide a sufficient basis for comparison of the bids received.”
In a regulatory filing in June, the company announced that it had put the Urucu oil and gas cluster up for sale.
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By GlobalDataThe cluster produced around 106,353 barrels of oil equivalent per day in the first quarter of the year.
Recently, in a conference with investors, Petrobras noted that domestic oil sales are projected to fall to 1.252 million barrels per day (bpd) in the 2021-2025 period.
However, crude exports are expected to increase in the same time period.
During the same event, Petrobras said that it aims to divest $25bn to $35bn in assets over the next five years.
Last month, the company started the process of selling its stake in the Bahia Terra cluster.
