Petrobras bids for Galp oilfield in NamibiaWakey wakey folks.
Please see below. Had heard this rumour way back early June, only relayed it to Tommy Deepwater on twitter and couple of others. Before the greeting faced among you start whinning about why you want Total etc etc PBR are bringing something huge to the party that will add immediate realistic value to SEI. I'll let someone like Upstream expand on that (clue strong to the finish cos they eat their spinach).
At same point back then it was only ever considered a 2 horse race, or 2 entities. First was PBR due to already being working partners in Brazil and what they will bring as sweetner, then Exxon/Eni as a joint venture. Chevron were considered to be just too slow to excecute any deal and then to take the FDP forward at rate Galp sought. Others like Shell etc too busy and focused on their own projects.
I would personally prefer PBR if rumours correct about what they bring and timelines, but also would be equally excited about XOM knowing just how quickly they brought on Guyana Lisa to production, now 650kbopd aprox.
Eitherway Galp have played a master hand of poker by ploughing ahead with appraisal plans and sending signal of strength to market....this has lcearly kick started the first part of what I hope will be a furious multiple party bidding process. The more bids equal more speculation. We should now have all industry journalists scrambling to be the first to mention figures at each turn.....buckle up!!
https://www.reuters.com/business/energy/brazils-petrobras-bids-become-operator-galps-mopane-oil-field-in-namibia-2024-07-26/