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(Image courtesy of Petrobras)

In a meeting today the Petrobras Board of Directors approved the sale of 100% of shares issued by Petrobras Colombia Limited (PEC) to Perenco for US$ 380 million.

Petrobras Colombia assets include interests in 11 onshore exploration and production blocks with average production of 6,530 barrels of oil equivalent per day carried on the Colombia and Alto Magdalena oil pipelines.

Approval for the deal is now pending review by Colombia’s National Hydrocarbons Agency  (ANH).

Petrobras will remain in Colombia through offshore exploratory blocks, distribution, in addition to 1 onshore exploratory asset.

Perenco Colombia Limited is a subsidiary of Perenco, and have operated in Colombia’s Llanos Basin since 1993. Current gross production in the area is 18,500 barrels of oil per day.
Perenco actively operates around the world, notably in Gabon, Cameroon, the Democratic Republic of Congo, the Republic of Congo, the United Kingdom, Colombia, Peru, Turkey, Tunisia, Vietnam.