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Petrobras Sells Stakes in Espírito Santo

Petrobras will sell its stakes in 27 onshore exploration and production concessions located in Espírito Santo, called the Cricaré Cluster, to Karavan SPE Cricaré SA, a specific-purpose ­entity (SPE), for $155 million. The deal is part of Petrobras’ plan for portfolio optimization and capital allocation improvement, shifting its resources to deep and ultradeep waters.

Petrobras said that the ­average production at the Cricaré cluster was approximately 1,700 BOPD and 14,000 m3 of natural gas per day from January to June this year.

The cluster comprises the fields Biguá, Cacimbas, Campo Grande, Córrego Cedro Norte, Córrego Cedro Norte Sul, Córrego Dourado, Córrego das Pedras, Fazenda Cedro, Fazenda Cedro Norte, Fazenda Queimadas, Fazenda São Jorge, Guriri, Inhambu, Jacutinga, Lagoa Bonita, Lagoa Suruaca, Mariricu, Mariricu Norte, Rio Itaúnas, Rio Preto, Rio Preto Oeste, Rio Preto Sul, Rio São Mateus, São Mateus, São Mateus Leste, Seriema, and Tabuiaiá.

Karavan O&G Participações e Consultoria will hold 51% of the SPE and ­equity provider Seacrest Capital Group will hold the remaining 49%.

Petrobras Sells Stakes in Espírito Santo

01 October 2020

Volume: 72 | Issue: 10

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