Petróleo Brasileiro SA (Petrobras) has initiated the process to sell its equity interests in the Tayrona license in deepwaters at Guajira basin, offshore Colombia, in line with its plan to improve the company’s capital allocation.
Petrobras, through its affiliate PIB-BV, is operator with 40% interest. Acquisition of Equinor’s 10% working interest by PIB-BV (4.44%) and Ecopetrol (5.56%), is in progress. Following approval by Colombia’s National Hydrocarbons Agency, Petrobras will hold 44.44% interest and Ecopetrol will hold the remaining 55.56%.
The company started the opportunity disclosure stage (teaser) for sale of its participation and position as operator in the exploratory portion of block, excluding PAD ORCA, which covers an area of 8,024 sq km.
The concession is in the posterior exploratory program phase, with a deadline for activities completion of February 2022. The firm remaining commitment is to drill one well.
Ecopetrol may exercise its preemptive right to acquire Petrobras' working interest.
