Trident Energy Acquire Petrobras’ fields

Trident Energy Acquire Petrobras’ fields

Trident Energy has come closer toward the acquisition of Petrobras’ Campos Basin assets Enchova an Pampo for a whipping price of $1 billion.

In 2017 Petrobras announced its intention to sell the fields. In 2018 Petrobras stated that Ouro Preto Óleo e Gás was the bigger bidder allegedly offering about $1 billion. In the same time Trident Energy did place a bid as well, but Ouro’s was a better one.

Somehow the deal with Oura and Petrobras collapsed after Oura reportedly reduced its offer.

In July 19 statement, Petrobras stated that Trident Energy had presented the best final bid for the Pampo and Enchova clusters. Petrobras stated also Trident had offered roughly $1 billion “firm and contingent payments considered,” for the Pampo and Enchova clusters.

The sales is in the alignment with the company portfolio’s optimization and improvement of the capital allocation, which can creates value for the shareholders.

The Enchova package is located in the shallow waters at a distance of 90 km from the coast with reservoir depth between 1,800 to 2,600m. The Enchova cluster contains Bicudo, Bonito, Enchova, Enchova Oeste, Marimbá and Piraúna concessions and Pampo Cluster includes Badejo, Linguado, Pampo, and Trilha concessions.

Oil from the Enchova cluster is produced via five platforms, one fixed and four floating. Oil and gas are exported through pipelines to Cabiúnas, the gas processing plant, located onshore.

The Pampo cluster sits in shallow water at a distance of about 80 km from the coast with reservoir depth between c.950 to 2,950m. Oil is produced through two platforms, one fixed and one floating.

Oil and gas are transported through pipelines to platform PCE-1 in the Enchova field, and subsequently to the Cabiúnas gas processing plant located onshore. Both Enchova and Pampo licenses expire in 2025 with the potential to extend.

Trident Energy is a private company that have been purchasing mid-life oil fields.