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May 6, 2021

Petrobras seeks bids for Golfinho oilfield cluster offshore Brazil

Brazil’s state-run oil company Petrobras is reportedly seeking bids for the Golfinho oilfield cluster located in the Espírito Santo Basin.

By Archana Rani

In the new bidding round, Petrobras is revealing previously unavailable information from the Golfinho cluster production well, which was drilled last year, Reuters reported.

The company will accept bids from potential firms in late May.

The sale is a part of the firm’s strategy to reduce debt and shift its focus on a prolific, deepwater formation.

The sources told the news agency that potential bidders for the new bidding round for the Golfinho cluster include DBO Energy and Norway’s BW Energy.

Last year, Petrobras said it started the binding phase to divest stake in clusters, Golfinho and Camarupim.

Subsequently, the firm entered negotiations with DBO, which reportedly made the highest offer following an open bidding round for the sale of the Golfinho field, Reuters reported in January.

The talks with DBO Energy, which was founded by Norwegian and Brazilian executives, were not successful, reported Reuters.

The divestment strategy was uncertain due to the replacement of former CEO Roberto Castello Branco with Joaquim Silva e Luna last month, Reuters reported two sources as saying.

Later, Luna indicated his intention to follow aspects of the current strategy of the company but with some possible changes.

According to few reports, delays are anticipated from potential buyers for the Petrobras’ assets in the latest bidding round.

Recently, the board of Petrobras approved to offload its remaining 10% stake in the natural gas pipeline unit, Nova Transportadora do Sudeste (NTS), for $337m (R$1.8bn).

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