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Petrobras sold Azulao gas field to German company Eneva: US $ 54.5 million

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Petrobras sold Azulao gas field to German company Eneva: US $ 54.5 million

Brazil’s Petrobras sold its stake in the gas field of Azulao (state of Amazonas) , to Eneva,  a company of the German group E.ON, which operates in generation, sale and logistics of electric energy.

The transaction is worth R $ 177.1 million (US $ 54.5 million) to be paid on the closing date of the transaction, said Petrobras on Nov.22.

The sale of Azulao is part of Petrobras divestment program to prioritize investments in assets with greater operational generation potential in the short term and with greater possibility of capital optimization and gains in scale.

The operation also depends on the approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP) and by the Administrative Council of Economic Defense (Cade).

Campo de Azulao, located some 290 km east of Manaus (capital of the state of Amazonas) and declared commercial in May 2004, has recoverable volumes of natural gas with the potential to implement an integrated project, with the direct flow of natural gas produced to supply a thermoelectric plant.