Petrobras plans to sell two Santos Basin fields

Petrobras plans to sell two Santos Basin fields

Brazilian oil major Petrobras has put up for sale its Uruguá and Tambaú fields, located in the Santos Basin, in the state of Rio de Janeiro.

Petrobras said the move is in line with the strategy of portfolio optimisation, reducing debt and improving the company’s capital allocation, increasingly concentrating its resources on assets in deep and ultra-deep waters.

The fields belong to the BS-500 concession, which was acquired through the zero round of the National Agency for Petroleum, Natural Gas and Biofuels (ANP). They are located in the northern portion of the Santos Basin, between 140 and 160 km off the coast of the state of Rio de Janeiro, in water depths ranging from 1,000 to 1,500 m.

Petrobras has set the deadline to express interest until September 29. Production from the fields, in 2020, was approximately 5,000 bpd of oil and 918,000 cu m/day of gas. Petrobras holds 100% interest in both fields.

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Published: 09-09-2021