Petroleum Africa
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Sunday, May 20, 2018
Petrobras’ assets in Nigeria have attracted big interest. According to various reports Glencore, Shell and Vitol are all interested in picking up the Brazilian firm’s stakes in the West African country.
Petrobras holds stakes in two major Nigerian offshore oil blocks that contain two producing fields, the major Agbami field in OML 127 operated by a local Chevron affiliate, and the Akpo field in OML 130 operated by Total.
Last November, Petrobras launched the sale of 100% of Petrobras Africa as part of the heavily-indebted company’s plan to offload $21B in assets through 2018. At that time the company stated, “The appropriation of POGBV’s net reserves totals approximately 204 million barrels. Current production there stands at 48,000 barrels per day, and it is expected to reach about 75,000 barrels per day until 2019.”
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