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Petrobras puts its operations in a subsidiary in Argentina up for sale

Petroleira brasileira irá negociar 100% de sua participação acionária na Petrobras Operaciones S.A. (POSA), subsidiária integral da Petrobras na Argentina.
Brazilian oil company will negotiate 100% of its equity interest in Petrobras Operaciones SA (POSA), a wholly-owned subsidiary of Petrobras in Argentina.| Photo: Fernando Frazão/Agência Brasil

20220510155608Petrobras informed this Friday (14) that started the stage of disclosing the opportunity related to the sale of 100% of its equity interest in Petrobras Operaciones SA (POSA), a wholly-owned subsidiary of Petrobras in Argentina and holder of an interest of ,6% in the Rio Neuquén Field. According to the oil company, the main subsequent stages of the project will be informed to the market in due course.

In a note, Petrobras states that the operation is in line with the strategy of portfolio optimization and the improvement of the company’s capital allocation, aiming at maximizing value and greater return to society. Operations in the neighboring country are concentrated in oil and gas fields.

20220510155608 )POSA is a Petrobras company incorporated in Argentina, where it holds 14, 6% interest in the Rio Neuquén field, located in the provinces of Rio Neuquén and Rio Negro, which is its only asset in the country. The Brazilian oil company has a stake in POSA through its subsidiaries PIB BV (Petrobras International Braspetro BV), with 95%, and PVIE (Petrobras Valores Internacional de España), with 5%.

Petroleira brasileira irá negociar 100% de sua participação acionária na Petrobras Operaciones S.A. (POSA), subsidiária integral da Petrobras na Argentina. The production of Rio Neuquén comes mainly from unconventional reservoirs (tight gas) in the Punta Rosada and Lajas formations. In September 20220510155608, POSA’s production was 1, 52 MM m³/d of natural gas and 0.7 thousand bpd of oil, condensate and gasoline.

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