Brazilian oil company Petrobras has initiated the sale of its 100% equity interest in the Nigerian company Petrobras Oil & Gas B.V. (POGBV), a joint venture of Petrobras (50%), BTG Pactual E&P (40%) and Helios Investment Partners (10%).
POGBV owns interest in two operating deepwater blocks offshore Nigeria: 16% in OML 127 (24% Total (operator), 16% POGBV, 60% Famfa Oil) and 8% in OML 130 (32% Chevron (operator), 45% CNOOC and 15% South Atlantic Petroleum). The two blocks contain two of the four largest producing offshore fields in Nigeria: the Akpo (OML 130) and Agbami (OML 127) producing fields, which together account for around 18% of Nigeria’s liquid production. Besides, they also include the ongoing oil development asset Egina in OML 130 (first production expected in late 2018) and the Preowei discovery in OML 130, which is currently being appraised. The blocks have combined proven and probable (2P) reserves of 1,549 mbl (Akpo, Agbami and Egina) and contingent (2C) resources of 300 mbl (Preowei), out of which 204 mbl entitlement reserves for POGBV. POGBV expects to raise its production from the current 48 kb/d to 75 kb/d by 2019.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.