Petrobras sells Polo Carmópolis for US $ 1.1 billion

Petrobras has announced to the market the sale of its entire stake in all 11 Polo Carmópolis dealerships in Sergipe. Photo: Antonio Lacerda / EFE

Petrobras announced on Thursday (23) that it had signed a contract to sell its entire stake in Polo Carmópolis, to Sergipe. The 11 concessions for onshore production and integrated facilities (access to infrastructure for the processing, unloading, storage and transport of oil and natural gas) will be transferred to Carmo Energy SA for US $ 1.1 billion.

The amount will be divided into US $ 275 million to be paid as a down payment, US $ 550 million upon closing of the transaction and the remaining US $ 275 million over 12 months after the transaction closes.

The sale transaction is still subject to the approval of the National Petroleum Agency (ANP) and the Administrative Council for Economic Defense (Cade) and, as Petrobras put it in an important fact, “aligns with the portfolio management strategy and improving the allocation of the company’s capital, aimed at maximizing value and a better return to society ”.

This year, between January and November, the average production of Polo Carmópolis was 7,600 barrels of oil.
per day and 43,000 m3 / day of gas.

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