trending Market Intelligence /marketintelligence/en/news-insights/trending/i9hImVhnHpq4605Q8aRpig2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Petrobras completes divestment of 34 onshore fields to Petroreconcavo unit

As COVID-19 Wears On, Regulators Examine Moratorium Extensions, Cost Recovery

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Petrobras completes divestment of 34 onshore fields to Petroreconcavo unit

State-owned oil company Petróleo Brasileiro SA, or Petrobras, completed the previously announced sale of 34 onshore production fields in the Brazilian state of Rio Grande do Norte to Petroreconcavo SA subsidiary Potiguar E&P SA, according to a securities filing.

The deal was completed following the payment of $266 million to Petrobras after all precedent conditions and adjustments were fulfilled. Petrobras received a deposit of $28.8 million when the deal was signed April 25.

Petrobras expects an additional $61.5 million earn-out conditional on obtaining a contractual term extension of 10 of the 34 concessions under the deal.

According to Petrobras, the fields, located in Brazil's Potiguar Basin, produced 5,800 barrels per day in 2019.

The divestment is part of Petrobras' plan to reduce debt by selling assets. The divestment program has brought in $15.3 billion year-to-date as of Oct. 15, and the Brazilian oil major plans to extend the program to 2024.