Petrobras in talks with PetroRio to sell two offshore oil fields

Petrobras in talks with PetroRio to sell two offshore oil fields

10 Nov 2021

Petrobras has selected a consortium led by PetroRio to sell the Albacora and Albacora Leste offshore oil fields in the Campos Basin.

The decision was based on the analysis of the proposals received for the divestment of the two oil fields. In September of this year, the two concessions attracted bids worth more than US$4bn.

The binding offer was submitted by two consortiums, one of which was led by Enauta, with 3R Petroleum and the US private equity fund EIG Global Energies as partners. The other consortium consists of PetroRio and Spain’s Cobra Group.

With an area of 455km², the Albacora field is situated in the northern part of the Campos Basin, with water depths of 100-1,050m. It is about 110km from Cabo de São Tomé, on the northern coast of Rio de Janeiro.

The Albacora Leste oil field, located in water depths of 1,000-2,150m, is spread over an area of 511.5km² in the northern Campos Basin. It produced an average of 30,900bpd of oil and 598,000m3/d of gas last year.

Petrobras operates the field with a 90% stake, while Repsol Sinopec Brasil owns the remaining 10%.

For more information, please visit EICDataStream.

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