Petrobras picks PetroRio group for Albacora oilfield -sources

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(Businesshala) – Brazil’s state oil giant Petrobras has chosen a consortium of Petrorio SA and Cobra, a subsidiary of France’s Vinci SA, as the top bidder for its Albacora offshore oil field, four people with knowledge of the matter said. people said.

FILE PHOTO: People walk in front of the Brazilian state-owned Petrobras Oil Company headquarters in Rio de Janeiro, Brazil October 16, 2019. The picture was taken on October 16, 2019. Businesshala/Sergio Moraes/File photo

According to people interviewed Wednesday who requested anonymity to discuss confidential matters, the Petrório-Cobra bid made up of private equity firm EIG Global Energy Partners with Brazil’s Enauta Partispacos SA and 3R Petroleum Oleo E Gas SA. Tops a competitive offer from a union. .

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The two associations also submitted proposals for the neighboring Albacora Leste oil field, Businesshala reported in August.

The exact value of the bids was unclear, although Petrobras, formally known as Petroleo Brasileiro SA, said in late September that “there could be more than $4 billion for both sectors”.

Petrorio said in a securities filing Thursday that it had not been formally notified of Petrobras’ selection of the preferred bidder for the Albacora field.

Petrobras is currently selling dozens of properties to reduce debt and focus its attention on an offshore oil-producing region known as the “pre-salt” field.

When the company began the sale process in 2020, Albacora produced 43,000 barrels of oil equivalent per day (BOEPD), according to documents released by Petrobras. Albacora Leste produced 34,000 boepds at that time.

Sources said Petrobras is now expected to enter into bilateral talks for the Albacora field with a consortium led by independent oil producer Petrorio.

However, Petrobras’ decision to re-bid for Albacora Leste said people with knowledge of the matter, effectively spoiling the results of the original bidding round for that region.

Businesshala was not immediately able to ascertain the reasons for the re-bid.

Petrobras previously conducted new bidding rounds for assets when the offers submitted in the original round were very similar in value.

3R and EIG declined to comment. The other parties did not immediately respond to requests for comment.

Reporting by Gram Slattery and Carolina Circle; Additional reporting by Marta Nogueira; Editing by Kenneth Maxwell and Jason Neely

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