Petrobras Could save $18K mln between 2015 and 2021

Posted by Joseph R. Fonseca
Saturday, June 28, 2014
Four oil surplus subsalt areas could save $ 18,000 mln

 

Brazil's Petrobras estimates it will save costs for 18,000 million dollars between 2015 and 2021 findings with direct contracting to explore four oil surplus subsalt areas of the country, the company said Friday .

The company expects investment required would be for about 26,000 million dollars to acquire areas, discover and define the potential surplus oil, according to a filing with the Securities and Exchange Commission (CVM).

The presentation was used this afternoon by the president of Petrobras, Maria das Graças Foster, in a meeting with analysts at the headquarters of the state company in Rio de Janeiro.

On Tuesday, the National Energy Policy Council (CNPE) Petrobras chose to remove, without notice and in a shared system, an estimated 10,000 million and 15,000 million barrels of oil in the subsalt area over volume.

To qualify for exploring the surplus oil subsalt areas Buzios, Environment Iara, Florim and Tupi Northeast, the state will have to cancel this year a bonus 2,000 million reais, in addition to an advance payment by the Government estimated 13,000 million reais in 2015 and 2018.

Investors received the agreement in bad shape and Petrobras preferred shares have accumulated a fall of 6 percent from the decision of CNPE.

For the company, the surplus oil from that area of ​​the subsalt region "says reserve replacement and production sustainability 2020-2030, with greater profitability."

Petrobras will increase investments from 2019 to ensure the start of oil production surplus from the sale in 2021, and is not provided a new issue of shares after the new agreement with the union subsalt region.

The company said it planned no additional investments related to oil surplus area by 1.200 million in 2014-2018; 9,700 million in 2019-2020;and 39,800 million from 2021 to 2030.

The president of Petrobras also suggested that the incorporation of reserves to Petrobras portfolio could lead the company to reduce its appetite for new areas in future auctions of exploration blocks and oil production.

In a report sent to clients, the bank Itau BBA said, according to the state, the Government should take the decision to exercise the prepayment of surplus oil between 2015 and 2018 within the next three or four months, but the company believes that in any way the financial result of the agreement will be positive. 

(Reporting by Marta Nogueira Article in Spanish by Ricardo Figueroa)

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

WRRDA: Clearing the Channel for P3 Projects

A Creative Combination for Financing Inland Waterways Infrastructure Earlier this year, the U.S. maritime industry in general, and the inland waterways industry in particular,

Choosing the Best Financing Proposal

It isn’t always about the rate. In a robust boatbuilding market – like the one we see now – even the most successful, financially stable operators need to borrow.

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

Energy

Fourth Rig Delivered to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Coatzacoalcos, to Mexico’s Central Panuco S.

Massive LNG Absorber Shipped to Malaysia

Successful transport of 1,480t absorber for biggest LNG plant worldwide in Malaysia.   1,480 tons and a high center of gravity made the transport of an absorber

EU: Ships Will Measure CO2 Emissions

Shippers to begin monitoring from 2018; Environmental groups say law is weak, shippers favorable. The shipping sector will for the first time have to monitor

News

Diana Extends Containership Time Charters

Diana Containerships Inc. announced direct continuation of time charter agreements for m/v Cap Domingo and m/v Cap Doukato   Diana Containerships Inc., a global

MSC Approves SOLAS Amendments

SOLAS amendments to make IGF Code mandatory approved by Maritime Safety Committee   The International Maritime Organization’s (IMO) Maritime Safety Committee (MSC),

Kings Point Student Earns NMRA Scholarship

The National Marine Representatives Association (NMRA) recently awarded its second $500 scholarship to a student pursuing education in the marine industry and maritime trades.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2981 sec (3 req/sec)