Petrobras begins sale of assets in the Northeast.

Edwirges Nogueira, from Agência Brasil - Petrobras has put up for sale a set of shallow water oil and gas production fields in the Northeast of Brazil. There are 9 fields, 5 in Sergipe and 4 in Ceará. The transfer of exploration, development, and production rights in these areas will be done through a competitive process.

Yesterday (4), the president of the state-owned company, Pedro Parente, met with the governors of Ceará, Camilo Santana, and Sergipe, Jackson Barreto, to talk about the company's decision.

The sale of assets is part of the oil company's divestment plan, valued at US$15,1 billion for the 2015-2016 period. Last year, Petrobras reached US$700 million of that total. In a statement, the company said it will not disclose a value estimate before the sale is completed.

The fields were grouped into production hubs, with integrated facilities. The Ceará hub includes the Curimã, Espada, Atum, and Xaréu fields. In Sergipe, the production hub consists of the Caioba, Camorim, Dourado, Tatuí, and Guaricema fields, the latter being the first location where oil was discovered in the Brazilian sea, in 1968 (at a depth of 80 meters).

refineries

The decision to sell the shallow water fields adds to two other Petrobras projects canceled in the Northeast. The projects to implement the Premium I refinery in Maranhão and the Premium II refinery in Ceará were terminated in January 2015 by the company, which cited a lack of economic attractiveness due to the growth rates of the domestic and international markets for refined products, as well as the absence of a partner to implement the new structures.