document: On 9 July 2020, Petrobras announced a closing of the sale of the Pescada, Arabaiana and Dentao fields on the Potiguar Basin shelf to OP Pescada, a subsidiary of local Brazilian operator Ouro Preto. The deal, for just US$ 1.5 million, includes the Petrobrasâ 65% and operator status in the fields where OP Pescada already has the other 35%. The fields had a combined production in the first half of 2020 of 260,000 bbls of oil and 6.7 MMcfg/d. The transactions is still awaiting regulatory approval. Â In early June 2020, it was disclosed that Petrobras was in an active divestment process and expected to soon conclude a sale agreement for its 65% working interest in the Pescada and Arabiana gas and condensate fields. The company is in direct negotiations with working interest partner Ouro Preto on the blocks which is presumably exercising a right of first refusal to acquire the Petrobras share and operator status on fields off the coast of Rio Grande do Norte. Negotiations have been in progress since early this year. Petrobras on 12 March 2019, announced the start of its binding phase in the competitive process to divest rights on the Polo Grande do Norte concession package in the state of Rio Grande do Norte and Potiguar Basin. The divestment package included: the Agulha, Cioba, Ubarana, Oeste de Ubarana, Pescada and Arabaiana concessions. Previously, Petrobras extended the deadline for companies to register interest in a divestment bidding process for 30 shelf oil and gas concessions in a September 2017 securities filing. The fields were organized into seven packages and Petrobras had a 100% working interest in most of them except the Pescada and Arabaiana fields. On 28 July 2017, Petrobras published a brief teaser on the sale of the areas in compliance with new transparency regulations determined by the Federal Audit Court. <P />
summary: Brazil (Potiguar B.), Petrobras announced a closing of the sale of the Pescada, Arabaiana and Dentao fields to OP Pescada, a subsidiary of local Brazilian operator Ouro Preto. 