Petrobras sells Peru assets to CNPC for USD 2.6 bln

Petrobras sells Peru assets to CNPC for USD 2.6 bln

Petrobras said it completed the sale of 100% of the shares of its unit Petrobras Energia Peru to the China National Petroleum Corporation, for the sum of US$2.6 billion.

The sale was finalized with a cash payment to Petrobras of US$2.2 billion, after deduction of the due tax and fulfilment of all the conditions set down in the contract that was signed on November 13, 2013, Petrobras said in a statement.

The transaction included: 100% of Lot X, a mature field that produced 13,000 barrels of oil equivalent per day in 2013; a 46.16% stake in Lot 57, an operational field producing natural gas and condensate, operated by the partner, Repsol; and 100% of Lot 58, an exploration block close to Lot 57, where significant discoveries of natural gas and condensate have recently been made.

Press Release; Image: Petrobras

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