Petrobras unloads USD 101m Argentina onshore assets

PESA assets involved in the deal include 26 onshore exploration and production concessions, with average oil and gas output of 15,000 barrels of oil equivalent per day, as well as all the distribution, treatment and storage infrastructure required.

This is the first sale of Petrobras assets under the 2015-2016 Divestment Plan released on March 2.

The plan is expected to raise USD 13.7bn.

The payment was made when the contract was signed, and this sale will therefore be accounted in the first quarter 2015 results, with an estimated impact of USD 65m in net income.

Completion of the deal is subject to the approval of the competent Argentine authorities.