To give continuity to the projects of exploration and production of oil and natural gas in Brazil and Namibia, the oil company HRT will in partnership with national and foreign oil. The intention is to find investor partners to reduce business risks. In the African country, the company plans to close the sale of a portion of a block to the end of this month, before the announcement of the result exploration in the area. In Brazil, the company has qualified to compete in 11 new exploratory areas. Bidding Round, which will be organized in May by the National Agency of Petroleum, Natural Gas and Biofuels (ANP). But HRT is not willing to commit the cash, currently R $ 1 billion in this venture. The idea, says Marcio Rocha Mello, president of the company, is to seek alliance with other investment companies. HRT enter only with the "know-how". "I spent years doing to us and to my companies, geological surveys and the basins of the Northeast region and the equatorial margin of the country I know it like the back of my hand. Clearly there are oil companies interested in partnering with only HRT for technical expertise, "Mello claims. The strategy of not spending money on acquiring new areas will only be reviewed if HRT encounter a "spectacular opportunity," said the executive.
Then admitted that the areas offered this time are the new frontier, which implies more risk than those located in more mature basins such as the Campos and Santos. Shares of HRT, which in March 2011 came to be quoted at R $ 43.00, now worth a tenth of that. In closing this Friday, the exchange rate was R $ 4.39. Over the past 12 months, the devaluation was almost 63%. Mello said that all the company's available cash will be directed to projects running in the Amazon and in Namibia. He said that resources are sufficient to cover the investments planned by the end of 2014. "If we do not find anything in Namibia and not generate cash will be a great chance, almost an impossibility," he said. Currently, the company has Portugal's Galp as a partner in Namibia. The oil company acquired at the end of last year's 14% interest in three exploration licenses of HRT, the Walvis and Orange basins. Besides this and the second asset sales, expected to be completed by the end of this month, HRT negotiates other companies, with the premise that remain as operator and owner of at least 51% of the control areas. Currently, the company's total share in the blocks is around 85%. "HRT is at its best. We are about to produce oil in the Solimões and Namibia," said Mello, disputing rumors that shareholders are unhappy with the way the company has been led by him. ..
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