Starboard makes highest offer per field

On the night of last Tuesday (24), Petrobras announced, through a statement, that the fund manager Starboard Asset made the largest offer – in the amount of US$ 90 million – to acquire the Papa-Terra field, in deep waters of the Campos Basin. 

The state-owned company is in negotiations for the sale of the asset, with no set deadline for an agreement, and estimates that Papa-Terra has 1.98 billion barrels of oil equivalent (oil + gas) in place. Petrobras is the operator of the field, with a 62.5% stake and Chevron holds the remaining 37.5%."

The signing of contracts relating to this disinvestment is subject to the success of the negotiations and the obtaining of the necessary corporate approvals. Thus, it is not possible to anticipate at this time whether the operation will be completed and, if so, what will be the final amount to be paid," Petrobras said in a statement.


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