Petrom completes deal for full Rabo Branco ownership
Oct. 12, 2021
Produção de Petróleo e Gás Ltda. (Petrom) has concluded the purchase of a Petróleo Brasileiro SA’s (Petrobras) 50% stake in onshore Rabo Branco field in the Sergipe-Alagoas basin, Sergipe, Brazil.
Produção de Petróleo e Gás Ltda. (Petrom) has concluded the purchase of a Petróleo Brasileiro SA’s (Petrobras) 50% stake in onshore Rabo Branco field in the Sergipe-Alagoas basin, Sergipe, Brazil.
In late 2020, Energizzi Energias do Brasil Ltda expressed interest in Petrobras’s stake in the field, but Petrom exercised its right of first refusal provided for in an earlier contract (OGJ Online, Dec. 14, 2020). The transaction was concluded for $1.5 million.
Rabo Branco is part of the BT-SEAL-13 concession, south of Carmópolis field. Average production in 2020 was 131 b/d.
Petrom is a special purpose company formed to manage the activities developed in Rabo Branco field, in which it is the operator and now holds 100% stake.
