Amazon asset sale on menu

摘要

BRAZILIAN state-controlled company Petrobras has started the sale process of a major onshore natural gas hub in the heart of the Amazon region, as it continues its aggressive strategy of divesting non-core assets to focus on more profitable operations in the pre-salt province. Petrobras has decided to exit activities in the Solimoes basin by selling its 100% stakes in the Arara Azul, Araracanga, Cara-panauba, Cupiuba, Leste do Urucu, Rio Urucu and Sudoeste Urucu fields, all situated within Brazil's portion of the Amazon region. The so-called Urucu cluster produced on average 106,353 barrels of oil equivalent per day in the first quarter, consisting of 16,525 barrels per day of light 49 degrees API oil and 14.3 million cubic metres per day of natural gas. According to Petrobras, the Carapanauba and Cupiuba fields may be excluded from the sale process at any moment prior to the submission of bids. The two fields only represent 0.5% of total output from the cluster. In addition to the concessions and production facilities, the transaction also includes four natural gas processing plants, treatment and compression stations, oil tanks and liquid petroleum gas spheres, according to Petrobras.