THE Petrobras (PETR4) approved this Thursday the sale of its entire stake in the Polo Golfinho and Polo Camarupim maritime concessions, in deep post-salt waters, in the Holy Spiritto BW Energy for up to $75 million.
Of the total, US$3 million will be paid in cash, US$12 million at the closing of the transaction and up to US$60 million in contingent payments, depending on future Brent quotations and asset development, according to the statement.
The amounts do not include adjustments until the conclusion of the transaction, subject to the fulfillment of conditions, such as the guarantee of the Administrative Council for Economic Defense (Cade) and for National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The Golfinho Pole in water depths between 1,300 meters and 2,200 meters, which includes the fields of Golfinho, an oil producer, and Canapu, a non-associated producer, and the exploratory block BM-ES23.
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Source: Moneytimes
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