popular articles

Brazil: Cobra IS (Vinci) buys Petrobras’ assets in Polo Carmópolis for $1.1 billion

Cobra IS, announced the $1.1 billion acquisition of Brazilian group Petrobras' assets in Polo Carmópolis.

Please share:

Vinci subsidiary Cobra IS has announced the $1.1 billion acquisition of Brazilian group Petrobras’ assets in Polo Carmópolis, consisting of interests in 11 oil and gas field concessions, according to a statement.

“Cobra IS announces the acquisition, by its subsidiary Carmo Energy, of Polo Carmópolis from the Brazilian group Petrobras. This is a package of interests in eleven onshore oil and natural gas field concessions and related infrastructure, including processing, storage and transportation, located in the state of Sergipe in Brazil,” it said.

“Carmo Energy will be in charge of the maintenance work and the upgrading to technical and environmental standards of these installations and will be remunerated through their exploitation. The average production per day of Polo Carmópolis amounted to 4,500 barrels of oil and 22,000 m3 of natural gas in November 2022″, the statement continued.

The total acquisition amount is US$1.1 billion, “of which US$823 million will be paid in 2022, with the remaining US$275 million to be paid to Petrobras within 12 months,” Cobra IS says.

The press release specifies that this operation, “signed in 2021, before the acquisition of Cobra IS by Vinci, will be subject to a strategic review in 2023”. Cobras IS was acquired in 2021 from the Spanish group ACS.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Deputy Prime Minister Alexander Novak says Russian oil production could reach a sustained level of 10.8 million barrels per day, supported by rising global demand and internal fiscal adjustments.
Oil prices climbed following a joint decision by Washington and Beijing to temporarily suspend tariffs, easing pressure on global demand.
Oil prices climbed following a joint decision by Washington and Beijing to temporarily suspend tariffs, easing pressure on global demand.
Shell announced a delay in bringing two new wells online at the Perdido offshore field, temporarily lowering production targets in the Gulf of Mexico.
Shell announced a delay in bringing two new wells online at the Perdido offshore field, temporarily lowering production targets in the Gulf of Mexico.
Lower sales revenues and rising operational costs impacted Aramco’s results, while the company remains central to Saudi Arabia’s economic strategy.
Lower sales revenues and rising operational costs impacted Aramco’s results, while the company remains central to Saudi Arabia’s economic strategy.
Oil prices climbed on Friday, supported by the signing of a trade agreement between the United States and the United Kingdom, reviving expectations of easing global tensions.
California approved only three new drilling permits in Q1 2025, but Kern County and two CO₂ pipeline bills may reverse that trend.
California approved only three new drilling permits in Q1 2025, but Kern County and two CO₂ pipeline bills may reverse that trend.
US oil operators will face moderate drilling cost increases in 2025, driven by tariffs, despite price drops in several key service segments.
US oil operators will face moderate drilling cost increases in 2025, driven by tariffs, despite price drops in several key service segments.
BluEnergies Ltd. has announced the immediate appointment of Craig Steinke as Chief Executive Officer, succeeding James Deckelman, who is stepping down for personal reasons.
BluEnergies Ltd. has announced the immediate appointment of Craig Steinke as Chief Executive Officer, succeeding James Deckelman, who is stepping down for personal reasons.
The increase in tariffs between the United States and China is radically reshaping China's petrochemical supply flows, threatening to raise costs and intensify supply challenges in an already strained strategic sector.
The United States imposes sanctions on several Chinese entities involved in purchasing and transporting Iranian oil, disrupting a petroleum supply chain worth several hundred million dollars.
The United States imposes sanctions on several Chinese entities involved in purchasing and transporting Iranian oil, disrupting a petroleum supply chain worth several hundred million dollars.
Brent and WTI prices surged after the announcement of a trade deal between the United States and the United Kingdom, raising expectations of a rebound in global crude demand.
Brent and WTI prices surged after the announcement of a trade deal between the United States and the United Kingdom, raising expectations of a rebound in global crude demand.
US commercial crude oil reserves dropped more than expected in early May, supported by increased refinery activity, according to the latest data from the Energy Information Administration.
US commercial crude oil reserves dropped more than expected in early May, supported by increased refinery activity, according to the latest data from the Energy Information Administration.
Oil prices are trending downward under the combined pressure of increased output from Opec+ members and the potential for a nuclear deal between Iran and the United States.
The Venezuelan government confirmed it will continue operating Chevron’s oil fields after the US-imposed withdrawal of the American company.
The Venezuelan government confirmed it will continue operating Chevron’s oil fields after the US-imposed withdrawal of the American company.
BP rises on the London Stock Exchange amid acquisition rumours by Shell, which may wait for a further drop in oil prices before taking action.
BP rises on the London Stock Exchange amid acquisition rumours by Shell, which may wait for a further drop in oil prices before taking action.
Petroecuador signed an agreement with Sinopec to drill new wells in the northeastern Amazon, aiming to increase output by 12,000 barrels per day.
Petroecuador signed an agreement with Sinopec to drill new wells in the northeastern Amazon, aiming to increase output by 12,000 barrels per day.
Crude prices gained momentum after a drop triggered by OPEC+, supported by strong gasoline demand in the United States ahead of the summer season.
Petrobras has awarded Subsea7 a large-scale contract for the development of the Búzios 11 field, located in the pre-salt Santos basin offshore Brazil.
Petrobras has awarded Subsea7 a large-scale contract for the development of the Búzios 11 field, located in the pre-salt Santos basin offshore Brazil.
Norway’s Equinor sells its majority stake in Brazil’s offshore Peregrino field to PRIO for $3.5 billion, shifting focus to Bacalhau and the Raia gas project.
Norway’s Equinor sells its majority stake in Brazil’s offshore Peregrino field to PRIO for $3.5 billion, shifting focus to Bacalhau and the Raia gas project.
Shell has completed the acquisition of additional shares in the Ursa oil platform and its associated pipeline, raising its stake to over 61% in both assets.
Shell has completed the acquisition of additional shares in the Ursa oil platform and its associated pipeline, raising its stake to over 61% in both assets.
Commercial crude inventories in the United States saw an unexpected drop, significantly exceeding analysts' forecasts, according to data from the Energy Information Administration.
TotalEnergies saw its net profit fall to $3.9bn in the first quarter, impacted by lower oil prices, despite an increase in its hydrocarbon and electricity production.
TotalEnergies saw its net profit fall to $3.9bn in the first quarter, impacted by lower oil prices, despite an increase in its hydrocarbon and electricity production.
Repsol’s quarterly performance plunged due to the combined impact of falling crude prices, shrinking refining margins and trade tensions between the United States and its partners.
Repsol’s quarterly performance plunged due to the combined impact of falling crude prices, shrinking refining margins and trade tensions between the United States and its partners.
Austrian group OMV sees profits collapse amid halted Russian gas flows, strategic repositioning in chemicals and shift toward new industrial partnerships.
Austrian group OMV sees profits collapse amid halted Russian gas flows, strategic repositioning in chemicals and shift toward new industrial partnerships.

Advertising