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Petroleo Brasileiro Petrobras SA Sells Petrobras Colombia Limited to Perenco

Friday, 13 Sep 2013 04:58pm EDT 

Petroleo Brasileiro Petrobras SA announced that on September 13, 2013 its Board of Directors approved sale of a 100% stake in Petrobras Colombia Limited (PEC) to Perenco, for the price of USD 380 million. The assets of PEC that are part of the transaction include holding in 11 exploration and onshore production blocks with an average net production of 6,530 barrels of oil per day and pipelines from Colombia and Alto Magdalena, with a transport capacity of 14,950 barrels per day and 9,180 barrels per day, respectively. Completion of the transaction is subject to the approval of Agencia Nacional de Hidrocarburos ANH (National Agency of Hydrocarbons).