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  HOME | Brazil (Click here for more)

Petrobras Sells Peruvian Energy Assets to China’s CNPC

RIO DE JANEIRO – Brazilian state-controlled oil giant Petrobras said Wednesday it sold 100 percent of its stock in subsidiary Petrobras Energia Peru to China National Petroleum Corporation (CNPC) for $2.6 billion.

The sale must be approved by the governments of Peru and China, Petrobras, whose shares are traded on the Sao Paulo, New York and Madrid stock exchanges, said in a statement.

The deal includes 100 percent of the production rights to Lot X, a mature field that produced an average of 16,000 barrels per day (bpd) in 2012.

CNPC is also getting a 46.16 percent stake in Lot 57, a gas field that is still in the pre-operational stage, and 100 percent of Lot 58, a field where natural gas and condensates were recently discovered, Petrobras said.

The deal with CNPC was announced two days after President Dilma Rousseff visited Peru to discuss the possibility of expanding bilateral business.

The Peruvian government has expressed an interest in having Petrobras stay in the country.

The sale is part of a $9.9 billion asset divestment plan announced last year, Petrobras said.

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