Rio de Janeiro – Brazil’s state-owned oil company Petrobras signed a contract with Eagle Exploração de Óleo e Gás Ltda. (Eagle) relinquishing 100% of its stakes in four onshore fields in Bahia’s Tucano Basin, in a USD 3.01 million deal. Petrobras said payment will be made in two instalments. The first USD 602,000 instalment was paid upon signing, with the remaining USD 2.408 million due at a later date.
Conclusion of the deal hinges on conditions such as approval by the Administrative council of Economic Defense (Cade) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP). Brazilian oil and gas company Eagle is the E&P arm of Grupo CKL, whose multi-industry portfolio spans the entire national territory.
The onshore fields are located some 110 km off Salvador. According to Petrobras, output from the four fields averaged 26 boe per day. Output was gas only; no oil was produced.
Translated by Gabriel Pomerancblum
