Brazil: Petrobras signs contract for sale of onshore fields in Bahia
20 Dec 2020
Ouro Preto Energia Onshore, a wholly owned subsidiary of
3R Petroleum Óleo e Gás, a contract for the sale all of its stakes in fourteen onshore exploration and production fields, called
Recôncavo Cluster, located in the state of Bahia.
The sale value is
US$ 250 million, being (i) US$ 10 million paid today; and (ii) US$ 240 million at the closing of the transaction. The amounts do not take into account the adjustments due and the closing of the transaction is subject to compliance with previous conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).