Petrobras Finalizes $300mn Alagoas Hub Sale
02.14.2022 By Ricardo Perez - NEWS

February 14, 2022 [Argus] – Brazilian state-controlled company Petrobras finalized the $300mn sale of its Alagoas Hub gas and oil assets to Origem Energia.

 

The Alagoas Hub includes a 1.8mn m³/d (63.6mn cf/d) gas processing unit, which had its operation authorized by the government last week. It also includes seven onshore and shallow water production concessions operated by Petrobras since the 1970s. Also included in the deal are two treatment stations and a network of 230km of pipelines with direct access to the TAMAC oil export terminal, located in the Alagoas state capital.

The assets’ sale to Origem Energia, one of the first companies to sign gas distribution contracts under the country’s new gas market rules, signals the end of Petrobras’ monopoly in the natural gas production area of Alagoas.

The sale was first announced by the state-owned company last July and is in line with Petrobras’ disinvestment plans to focus on deep and ultradeep water assets.

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