Petrobras will sell its 20% interest in the Bijupirá and Salema fields, currently operated by Shell, to PetroRio for US$25 million, the Brazilian national announced.
The fields are located in Campos Basin, in water depths ranging 480-850m. The average daily production is 22,000 bbl of oil and 325,000cu m of associated gas. Petobras says the oil is light quality, between 28º to 31º API.
The sale is part of the Petrobras' divestment plan.
The conclusion of the purchase and sale transaction between the parties is subjected to certain preceding conditions, among which, the approval of an assignment of rights by the Board of Directors of the Brazilian Administrative Council for Economic Defense – CADE and the Brazilian National Petroleum Agency – ANP.
Petrobras announced its new 2015-2019 investment plan last week, which slashed 41% out of its previous budgets. The company also now expects to divest up to $15.1 billion in assets from 2015-2016, which will include up to 30% from its exploration and production side.
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