Manati Field: PetroRio signs slice sale

PetroRio reported last Thursday (5), that it signed an agreement with Gas Bridge SA to sell its 10% stake in Campo de Manati. The transaction has a total value of R$ 144.4 million and includes the transfer of all of PetroRio's lideum by the asset, including participation in the abandonment of the venture. The effective date of sale will be December 31, 2020. 

However, according to the company, the process is subject to previous conditions, among which is the success of Gas Bridge in the acquisition of Petrobras' stake in Manati. The state-owned company said in August that it entered the stage of receiving binding offers for its 35% stake in the Manati field in Bahia. 

PetroRio said the move "is part of the company's value strategy through dynamic management of its asset portfolio and reinforces Petro Rio's focus on the operator assets that make up the core of its business."


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