(Petrobras, 30.Sep.2019) — Petrobras signed with the company Central Resources do Brasil Produção de Petróleo Ltda. contracts for the sale of all its stake in the onshore fields of Ponta do Mel and Redonda, located in the state of Rio Grande do Norte.
The sale amount is US$ 7.2 million, to be paid in full on the transaction closing date, not including any adjustments due.
The oil production in Ponta do Mel and Redonda fields in the first half of 2019 reached a total of about 540 bbl/day. These fields were discovered in 1984 and 1987 as a result of oil exploration service contracts with a risk-clause (the so-called “Risk Contracts”) currently held by Central Resources. Through these contracts, the contracting company explored the delimited areas at its own risk and, due to the oil discoveries, became entitled to receive from Petrobras a financial share on the net income of the fields.
The transaction closing is subject to the fulfillment of precedent conditions, such as the approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The transaction complies with the Petrobras Divestment Methodology and the provisions of the special procedure for transfer of rights on exploration, development and production for oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.
The transaction is in line with the portfolio optimization and the improvement of the company’s capital allocation, aiming at generating value for our shareholders.
The Central Resources do Brasil Produção de Petróleo Ltda. is an oil and gas operator, associated to Central Resources Group, focused on the redevelopment of mature onshore fields. It currently carries out oil operations activities in Rio Grande do Norte and Espírito Santo states.