Brazil’s Eneva, PetroReconcavo and 3R bid for Petrobras onshore fields, sources say

The logo of Brazilian state-run oil company Petrobras is seen at its headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes

RIO DE JANEIRO, March 22 (Reuters) – Brazilian energy companies Eneva SA (ENEV3.SA), PetroReconcavo SA (RECV3.SA) and 3R Petroleum Oleo e Gas are among companies that submitted binding bids on Tuesday for a group of Onshore oilfields owned by state-owned Petrobras (PETR4.SA), three sources said.

Eneva and PetroReconcavo confirmed a joint bid for the fields, collectively known as Polo Bahia Terra, in a filing, but did not disclose the value of the bid.

Petrobras declined to comment. 3R Petroleum (RRRP3.SA) did not immediately respond to a request for comment.

The joint bid by Eneva and Salvador-based PetroReconcavo was reported earlier today by financial blog Brazil Journal.

Reuters reported in October that Aguila Energia, founded by former executives of Rio de Janeiro-based independent PetroRio SA (PRIO3.SA), submitted the highest bid in an open tender. . Petrobras, formerly Petroleo Brasileiro SA, confirmed the report, saying the offer exceeded $1.5 billion. Read more

A deal has not been finalized, leading to this week’s new round of bidding, according to two of the sources familiar with the matter who all requested anonymity to discuss the confidential sale process.

Representatives for Aguila were not immediately reachable for comment.

Brazil-listed shares of PetroReconcavo and Eneva rose around 6.5% in afternoon trading, with Eneva the biggest gainer in the national Bovespa equity benchmark (.BVSP) . Shares of Petrobras and 3R were little changed.

Bahia Terra’s average production at the start of 2021 was approximately 13,500 barrels per day of oil and 660,000 cubic meters per day of gas.

Reporting by Gram Slattery in Rio de Janeiro, Gabriel Araujo and Peter Frontini in Sao Paulo; Editing by Richard Chang and Emelia Sithole-Matarise

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