Brazil-based state-owned oil giant Petrobras is in talks with a global consortium to sell its natural gas fields, media reports said. The consortium consists of Brazil’s 3R Petroleum and Norway-linked DBO Energy among others.
The Peroa cluster would be among the first offshore all-gas fields sold by Petrobras. It is located off the coast of Espirito Santo state.
Last month, Petrobras said in a securities exchange filing that it is planning to spend around $6 billion till 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells.
Petrobras said it predicts proceeds of $1billion from asset sale in 2020, after receiving $14.4 billion in 2019.
It was reported that French oil giant Total has reached an agreement with Petrobras to transfer its stakes in five exploration blocks in the Foz do Amazonas Basin, offshore Brazil.
In August, the oil behemoth initiated the sale process for 26 onshore and shallow water oil fields and a refinery in the northeastern part of the country.
Petrobras is still in the nascent stages of the oilfields and refinery sale. The refinery known as Clara Camarao is in the state of Rio Grande do Norte., while the oilfields are collectively known as Polo Potiguar. It is reported that the oilfields produce approximately 23,000 barrels per day this year and 124,000 cubic meters per day of gas. That said, the Clara Camarao refinery has a capacity of 39,600 barrels per day.
Last month, chief executive Roberto Castello Branco said that approximately 11,000 employees of Brazilian state-run oil company Petrobras have accepted buyout packages and will leave the firm this year or next.