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Brazil's onshore sector set for boost with Petrobras divestment plan


Brazil's onshore sector set for boost with Petrobras divestment plan

Report summary

Petrobras' plans to divest approximately 20% of its maturing onshore portfolio could be the first step in the creation of a diverse, competitive junior E&P sector in Brazil. The programme is the first meaningful opportunity for smaller companies to build viable portfolios since Brazil's upstream sector was opened to outside investment in the late-1990s.These companies, with lower cost bases and faster decision-making processes, are well placed to fully exploit the assets. From a Petrobras point of view, the assets on offer are peripheral and this is a long overdue effort at rationalising its bloated portfolio.

This sale will not contribute significantly to Petrobras' 2016 divestment target; the main benefit will be increased operational efficiency. This divestment will strengthen and diversify the private oil and gas sector in Brazil, while reducing Petrobras' exposure and obligations to marginal fields.


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  • Divesting marginal assets will rationalise Petrobras' operations
  • A good opportunity for junior companies
  • Interest expected mainly from local operators
  • Logistics and monetising oil are risks
  • The sale will improve Petrobras' efficiency and diversify onshore upstream sector

In this report there are 5 tables or charts, including:

  • Divesting marginal assets will rationalise Petrobras' operations
    • Top 30 Petrobras producing fields (2015)
  • A good opportunity for junior companies
    • Clusters on offer
  • Interest expected mainly from local operators
    • Top 10 private onshore acreage holders (January 2016)
    • Top 10 private onshore producers (January 2016)
  • Logistics and monetising oil are risks
  • The sale will improve Petrobras' efficiency and diversify onshore upstream sector
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