Brazilian state-run oil and gas company Petrobras has terminated the contract with Brava Energia’s Enauta for the sale of its entire stake in the Uruguá and Tamba fields…
Brazilian state-run oil and gas company Petrobras has terminated the contract with Brava Energia’s Enauta for the sale of its entire stake in the Uruguá and Tamba fields.
Under the contract, signed by the companies in July 2024, Petrobras was to received $35 million for the stake sale, stating at the time that the transfer of the assets to a new operator represents an alternative to their decommissioning, with the prospect of extending their productive life.
“The closing of the transaction was conditional, among other factors, on the conclusion of the acquisition by Enauta Energia of the FPSO Cidade de Santos, owned and operated by MODEC, which did not materialize. As provided for in the contract, the amount paid as a deposit on December 21, 2023 will be retained by Petrobras,” the company said in the statement.
- Petrobras Sells Uruguá and Tambaú Fields to Enauta in $35M Deal
- Enauta Cancels Acquisition of FPSO Cidade de Santos from MODEC
The Uruguá and Tambaú fields belong to the BS-500 concession, which was acquired through the
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