Brazilian state-owned company Petrobras has signed an agreement with CarmoEnergy to sell its 11 production oilfield projects in the Polo Carmópolis area for US$1.1 billion. Onshore production concessions are located in different cities in Sergipe State, collectively referred to as Carmópolis Cluster. The concession includes comprehensive facilities that can use oil and gas processing, flow, storage, and transportation infrastructure.

According to the terms of the agreement, Carmo Energy will pay US$275 million as a down payment and another US$550 million when the transaction is completed. One year after the transaction is completed, the company will have to pay the remaining US$275 million to Petrobras. Petrobras said: "This business is in line with the improvement of the portfolio management strategy and the company's capital allocation, aimed at maximizing value and greater social returns.

Petrobras is increasingly focusing its resources on deepwater and ultra-deepwater assets. Over the years, it has shown great competitive advantages in these areas, producing better quality oil and lower greenhouse gas emissions. "Keywords: engineering construction, engineering news

From January to November 2021, the Carmópolis cluster produced an average of 7,600 barrels of oil and 43,000 cubic meters of natural gas per day. The acquisition is expected to enable CarmoEnergy, a subsidiary of the Cobra Group, to enter Brazil's oil and gas production, processing, flow, storage and transportation. In November 2021, Petrobras selected a consortium led by PetroRio to sell the Albacora and Albacora Leste offshore oil fields located in the deep waters of the Campos Basin offshore Brazil. The two concessions attracted bids worth more than $4 billion in September.Editor/XingWentao