A consortium led by Brazilian player Aguila Energia has emerged as the frontrunner to acquire a pool of Petrobras onshore fields in the Reconcavo and Tucano basins, according to a Reuters report.
Two sources said Aguila, a company founded by former PetroRio executives, offered over $1.5 billion for the mature Brazilian assets, beating rival proposals submitted by PetroReconcavo, 3R Petroleum and a pairing between Eneva and Seacrest.
The concessions contracts are the Aracas, Buracica, Canario da Terra, Canario da Terra Sul, Cantagalo, Cidade de Entre Rios, Fazenda Alvorada, Fazenda Azevedo, Fazenda Balsamo, Fazenda Boa Esperanca, Fazenda Imbe, Fazenda Panelas, Gurita, Gurita Sul, Jandaia, Lamarao, Leodorio, Malombe, Mandacaru, Massape, Riacho da Barra, Riacho Ouricuri, Rio da Serra, Rio do Bu, Rio Itariri, Rio Suaipe, Tangara and Taquipe fields.
The so-called Bahia Terra cluster also comprises infrastructure including 19 collecting stations, 12 collecting points, two oil treatment stations, six collecting and compression stations and four water injection stations.
According to Petrobras, the 28 fields combined produced on average 14,300 barrels per day of oil and 642,600 cubic metres per day of natural gas in the first half of 2020.
The divestment of the Bahia Terra cluster is one of dozens in course by Petrobras, as the state-controlled oil company looks to direct investments on deep-water and ultra-deepwater developments.