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July 1, 2021

Petrobras to divest exploration and production assets in Alagoas for $300m

The sale includes a set of seven production concessions and the natural gas processing unit of Alagoas.

By Archana Rani

Petrobras has agreed to divest its exploration and production assets located in the Brazilian state of Alagoas to Petromais Global Exploracao e Producao (Petro+) for $300m.

The sale includes a set of seven production concessions, called Alagoas Cluster, and their production facilities.

Of these concessions, six are onshore. These are Anambé, Arapaçu, Cidade de São Miguel dos Campos, Furado, Pilar, and São Miguel dos Campos.

The other concession, Paru field, is located in shallow waters.

From January to May 2021, the Alagoas Cluster reported average production of 1,900 barrels per day (bpd) of oil and condensate and 602,000m³/d of gas.

Moreover, the transaction includes the Natural Gas Processing Unit of Alagoas, which has a processing capacity of two million cubic metres per day. It processes 100% of the cluster gas and generating NGL.

The transaction is subject to conditions, including approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP).

Petrobras said that the sale forms part of its portfolio optimisation strategy and improve capital allocation.

Separately, Petrobras has awarded two contracts to Baker Hughes to provide flexible pipes for the oil and gas fields offshore Brazil.

The first contract involves the supply of 96km of flexible pipe for the Sapinhoá and Tupi fields.

Under the second contract, Baker Hughes will deliver up to 226km of flexible pipe for the Marlim 2 and Itapu fields.

These flexible pipes are designed for use as a mix of production lines, gas injection flowlines, water injection lines, and services lines for pre and post-salt subsea developments.

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