Ouro Preto submits best bid for Petrobras E&P clusters

Brazil

RIO DE JANEIRO, July 26, 2018 – Brazil’s Ouro Preto Óleo e Gás has presented the highest bid for two of NOC Petrobras’ shallow-water E&P clusters, international media reported Thursday.

The independent company submitted proposals worth up to USD 1 billion for the right to produce from the mature Pampo and Enchova areas through 2025.

Ouro Preto, which is supported by private equity firm EIG Global Energy Partners, vied against Warburg Pincus-backed Trident Energy for the clusters. If the deal goes through, it will mark EIG’s entrance in the Latin American oil and gas industry.

According to Reuters, Goldman Sachs will take on the debt financing for the deal.

Both development areas are located offshore Rio de Janeiro state in the Campos Basin. The Enchova cluster contains the Enchova, Enchova Oeste Bicudo, Bonito, Marimba and Pirauna fields, which together have an output of about 25,100 boepd. The Pampo area produces 13,500 boepd from the Pampo, Linguado, Badejo and Trilha fields.

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