Petroleum Africa
Find us on: 
Wednesday, November 8, 2017
Petrobras, Brazil’s state-run oil and gas firm, is pulling the plug on its operations in Nigeria. The company announced on November 7 that it was getting rid of its Nigerian subsidiary as part of a massive divestment program.
In a statement Petrobras said that the Nigerian subsidiary, Petrobras Oil & Gas B.V. (POGBV), was being fully sold. Petrobras owns 50% of it, BTG Pactual E&P B.V. holds 40%, and Helios Investment Partners owns the remaining 10%.
The Nigerian subsidiary participates in that Total-operated Akpo and Agbami fields, which produce roughly 368,000 bpd.
“POGBV’s liquid reserves total approximately 204 million barrels, and the current production is about 48,000 bpd, with the expectation of reaching around 75,000 bpd by 2019,” read the Petrobras statement.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
