Petrobras on Norte Capixaba Cluster

Instant Max AI

(Petrobras, 12.Apr.2023) — Petrobras, following up on the release disclosed on 23 February 2022, informs that the fulfillment of all precedent conditions has been concluded, regarding the transfer of its total interest (100%) in a set of 4 onshore production field concessions, with integrated facilities, located in the State of Espírito Santo – ES, jointly called Norte Capixaba Cluster, to the company Seacrest Petróleo SPE Norte Capixaba Ltda.

The transaction was concluded with the payment at sight of $426.65mn to Petrobras, already with the adjustments provided for in the contract. The amount received today is in addition to the $35.85mn paid to Petrobras when the sale contract was signed on 23 February 2022. In addition to this amount, Petrobras is expected to receive up to $66mn in contingent payments, depending on future Brent prices.

With the conclusion of the assignment, Seacrest assumes the condition of operator of the fields of Norte Capixaba Cluster and other production facilities.

This disclosure complies with the Petrobras’ internal rules and with the provisions of the special procedure for assignment of rights to exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.

The Norte Capixaba Cluster accounts for 3.3% of Petrobras’ production in the State of Espírito Santo, and its transfer does not impact Petrobras’ other activities in the region, where the company maintains operations in important deepwater fields, notably Parque das Baleias, in addition to 7 exploratory areas. Petrobras in Espírito Santo is still responsible for managing 14 platforms, 704 km of lines, through the headquarters located in the city of Vitória (EDIVIT). The company maintains its commitments made in the Strategic Plan 2023-27 for the State of Espírito Santo, with emphasis on the deployment of the Maria Quitéria platform at Parque das Baleias, the interconnection of new wells and an increase in its production curve by 2027.

Besides the offshore fields, Petrobras still has other operations in the state, such as the Cacimbas (UTGC) and Sul Capixaba (UTGSUL) natural gas processing units, and the Barra do Riacho Waterway Terminal.

About Norte Capixaba Cluster

The Norte Capixaba Cluster comprises four onshore fields: Cancã, Fazenda Alegre, Fazenda São Rafael and Fazenda Santa Luzia. The Norte Capixaba Terminal and all the production facilities contained in the ring fence of the concessions are also part of the Cluster, besides the ownership of some lands.

The average production of Norte Capixaba Cluster in the 1st quarter of 2023 was approximately 4.6 thousand barrels of oil per day (bpd) and 21.8 thousand m3/day of natural gas. Petrobras is the operator of these fields, with 100% stake.

About Seacrest

Seacrest Petroleo Bermuda Limited (Oslo “SEAPT”) is an independent oil and gas production company with an integrated portfolio of onshore production fields and export infrastructure in Espírito Santo, Brazil. Seacrest Petróleo SPE Norte Capixaba Ltda is a subsidiary of Seacrest Bermuda Limited.

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