Petróleo Brasileiro S.A. (Petrobras) has closed the acquisition of stakes in three exploratory blocks in São Tomé and Príncipe from Shell plc.
The Brazilian oil main has additionally signed amendments to the blocks’ manufacturing sharing contracts and joint working agreements, turning into a part of the consortia for the belongings, it mentioned in a latest information launch.
Shell stays the operator of the belongings with a 40 p.c stake in every block, whereas Petrobras holds a 25 p.c stake in Block 11 and a forty five p.c stake every in Blocks 10 and 13. Nationwide oil firm ANP-STP holds a 15 p.c curiosity in every block, whereas Portuguese power agency Galp Energia will personal a 20 p.c curiosity in Block 11. The monetary particulars of the transactions weren’t disclosed.
“The operation marks the resumption of exploratory operations on the African continent, with the goal of diversifying the portfolio, and is in keeping with the corporate’s long-term technique, aimed toward restoring oil and fuel reserves by exploring new frontiers and dealing in partnership”, Petrobras mentioned in an announcement.
2023 Manufacturing and Refinery Stories
In the meantime, Petrobras reported a two p.c quarter-over-quarter enhance within the common manufacturing of oil, pure fuel liquids (NGLs), and pure fuel at 2.94 million barrels of oil equal per day (boepd) for the fourth quarter of 2023.
The end result was achieved primarily because of the ramp-up of platform P-71 within the Itapu subject, FPSO Almirante Barroso within the Búzios subject, and FPSOs Anna Nery and Anita Garibaldi within the Marlim and Voador fields, the corporate mentioned in a separate information launch.
Petrobras’ 4 new wells from complementary Campos and Santos basin initiatives additionally contributed to the rise, the corporate added, noting that oil manufacturing within the pre-salt was 1.937 billion boepd, 3.5 p.c larger sequentially. The corporate’s personal manufacturing within the pre-salt, together with pure fuel, was 2.33 million boepd, representing 79 p.c of its complete manufacturing. The whole manufacturing reached 4.05 million boepd per day, in comparison with its earlier document of three.98 million boepd within the third quarter of final 12 months.
“The fourth quarter of 2023 consolidated the great outcomes we achieved all year long. 2023 was a 12 months of laborious work and plenty of successes and achievements for Petrobras. Data had been set in a number of firm areas, from E&P to Refining, crowning our crew’s efforts”, Petrobras President Jean-Paul Prates mentioned.
Petrobras mentioned it had achieved all of its manufacturing projections for 2023, which had been revised upwards in November 2023. Its complete annual oil and pure fuel manufacturing, at 2.782 million boepd, was 3.7 p.c larger than the manufacturing recorded in 2022. The corporate additionally achieved an annual document in operated manufacturing, with a median of three.87 million boepd, 6.2 p.c larger than in 2022.
On the refinery entrance, Petrobras in 2023 produced 23.3 million cubic meters of gasoline, 41.4 million cubic meters, and seven.1 million cubic meters of LPG.
The corporate’s complete utilization issue, which considers the amount of processed oil load and the refinery reference load, reached 92 p.c, based on the discharge.
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