Petronas, from Malaysia, buys 50% of Petrobras fields

Petrobras closed agreement with the Malaysian state Petronas and sold, for US $1.29 billion, 50% of the exploitation and production rights of the Green Turtle field (concession BM-C-36) and module III of the Swordfish field. The sale incorporates another business in the current disinvestment program introduced in the Brazilian oil company.

The other 50% of participation and operation of the fields will remain under Petrobras ‘ control. With the acquisition of the areas, Petronas consoliacts its presence in the Brazilian oil and gas market, where it already operates in the lubricants segment.

In a statement, Petrobras reported that the payment of the negotiation will be made in two installments: US $258.7 million paid on Thursday and US $1.03 billion at the end of the operation, without considering the adjustments due. Still according to the company, the disposal of assets implemented by the company already reaches US $11.3 billion only this year.

The Green Turtle Field started its operation on June 22 last year and currently produces about 103,000 barrels per day of oil and 1.2 million m³ per day of gas. The Swordfish field module III is an area to be developed in an integrated way with the Green Turtle field, with reference to the first oil for 2021.

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