PetroRio buys Petrobras’ stake in Bijupirá, Salema fields
RIO DE JANEIRO -- PetroRio has signed an agreement to acquire 20% of the rights and obligations of the concession contracts for Bijupirá and Salema fields from Petrobras.
In January, PetroRio announced the execution of a purchase and sale agreement to acquire 80% of the rights and obligations of the concession contracts for these fields with Shell Brasil Petróleo Ltda.
Therefore, after the approval of the transaction by regulatory agencies and satisfaction or waiver of all closing conditions, PetroRio will hold 100% stakes in both Bijupirá and Salema.
The total transaction price is $25 million, subject to adjustments, payable in cash. This transaction includes the 20% stake held by Petrobras in the fields and equipment related to their operation.
The fields are located in the Campos basin, in water depths of 480 m and 850 m. The concessions cover an area of 40,000,000 m2, with an average daily production of 22,000 bbl of oil and 325,000 m3 of associated gas, which equates to 24,000 boed. The oil extracted from the fields is light, measuring from 28º to 31º API.
