The PetroRio acquisition of Shell’s 80% stake in the Bijupirá and Salema fields, and the Fluminense FPSO cost the company US$150 million.
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PetroRio acquiring the Fluminense FPSO in Shell deal. Image from Modec. |
PetroRio has already paid 20% on the acquisition price tag for the fields in cash. The remaining 80% will be paid at closing.
The completion of the purchase and sale transaction between the two companies is subject to certain conditions, including approval from Brazil's Council for Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The announcement of the deal came last month, however an amount was not disclosed at the time.
Located in the Campos basin, the Bijupirá and Salema fields are about 80km northeast of the Polvo field and 250km east of Rio de Janeiro. The fields cover an area of 40 MMsq m with daily production totals of 22,000 bbl of light oil and 325,000sq m of associated gas, equivalent to 24,000 boe/d. Both fields have produced more than 100 MMboe since start up in 2013.
PetroRio says that with this deal, it will become one of the largest independent producers in the country, operating an average of more than 30,000 b/d.
Petrobras holds the remaining 20% in the Bijupirá and Salema fields.
Read more:
PetroRio acquires Shell Brazil fields
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