Petrobras to sell 73 mature fields

Petroleo Brasileiro SA announced that it will put up for sale 73 mature oil and gas fields divided into 11 groups of properties: two in Rio Grande do Norte state, one in Alagoas, one in Sergipe, five in Bahia, and two in Espirito Santo.

Jul 6th, 2000


RIO DE JANEIRO�Petroleo Brasileiro SA announced that it will put up for sale 73 mature oil and gas fields divided into 11 groups of properties: two in Rio Grande do Norte state, one in Alagoas, one in Sergipe, five in Bahia, and two in Espirito Santo.

According to Petrobras, production from these fields is about 2,900 b/d of oil and 170,000 cu m/day of natural gas. Total reserves are estimated at 35 million boe.

Petrobras will offer to purchase the oil and gas production in the fields and is open to negotiations to make available existing production infrastructure such as processing and transport units, plus storage of oil and water.

To participate in this deal, interested companies must be prequalified in accordance with criteria established by Brazil's National Petroleum Agency. Other conditions and needed documents will be published by Petrobras through a tender for sale of assets, to be published by July 14.

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