PETRONAS Production Sharing at Agua Marinha Block in Brazil with Petrobras, TotalEnergies and QatarEnergy

Malaysian energy group PETRONAS announced today that it’s subsidiary, PETRONAS Petróleo Brasil Ltda. (PPBL) has signed a Production Sharing Contract (PSC) with Petrobras, TotalEnergies and QatarEnergy for the Agua Marinha exploration block located in the Campos Basin, offshore Brazil. Under the PSC terms, Petrobras will be the operator with a 30 per cent participating interest, while TotalEnergies holds 30 per cent and QatarEnergy holds 20 per cent. PETRONAS Vice President of Exploration, Mohd Redhani Abdul Rahman said, “This milestone reinforces … Continue reading “PETRONAS Production Sharing at Agua Marinha Block in Brazil with Petrobras, TotalEnergies and QatarEnergy”

Brazil Oil Major Petrobras Shares Fall 10% After Plans to Privatize Shelved by New President Lula

Petrobras shares fell -10.75% Tuesday to $9.51-1.14 after the Brazilain oil major was no longer going to be privatized. Luiz Inacio Lula da Silva in one of his first official acts after being sworn in as Brazil’s president on January 1 was to remove Petrobras (PBR) and Brazil’s postal service from the list of state asset sales from a list of state-controlled businesses that had been scheduled for privatization. Lula plans on turning PBR it into a renewable energy powerhouse. … Continue reading “Brazil Oil Major Petrobras Shares Fall 10% After Plans to Privatize Shelved by New President Lula”

Petrobras Finalized Sale Producing Peroá and Cangoá Fields and BM-ES-21 Concession

Petrobras finalized the sale of all its stakes in the producing fields of Peroá and Cangoá, and in the BM-ES-21 concession. What is known as the Peroá Cluster is located in the Espírito Santo Basin was completed with 3R Petroleum Offshore, previously called OP Energia. This transaction continues Petrobras concentrating its resources on assets in deep and ultradeep waters, where it has a competitive edge. Transaction Details US$5 million paid to Petrobras when purchase and sale contract was signed. US$8.07 … Continue reading “Petrobras Finalized Sale Producing Peroá and Cangoá Fields and BM-ES-21 Concession”