Brazil’s state-run oil firm Petróleo Brasileiro (Petrobras) has commenced the binding phase for the sale of its entire stake in the in shallow waters fields in the Ceará Cluster offshore Brazil.
Operational since the 1980s, the Ceará Cluster is located at a distance of 30km from the coast of the state of Ceará, and in water depth ranging between 30m and 50m.
The Ceará Cluster comprises the fields of Tuna, Curimã, Espada and Xaréu. The cluster’s average production was 4.2 thousand barrels per day (bpd) of oil and 76.9 thousand m³/d of gas, through nine fixed platforms, in 2019.
Petrobras said that a process letter would be sent to potential buyers qualified for the binding phase of the Ceará Cluster sale.
In a press statement, Petrobras said: “This disclosure complies with Petrobras’ internal rules and is aligned with the provisions of the special procedure for assignment of rights on exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9,355/2018.”
Transaction part of Petrobras’ portfolio optimisation strategy
The transaction forms part of the company’s portfolio optimisation strategy as well as effort to improve capital allocation and increase focus on resources in world-class, deep and ultra-deep waters assets.
Separately, Petróleo Brasileiro has commenced the process to sell its interests in the Bahia Terra cluster in different municipalities of the state of Bahia.
The firm intends to sell its total interests in a set of 28 onshore production field concessions, with integrated facilities, in the Recôncavo and Tucano basins.
The Bahia Terra Cluster comprises about 1,700 wells in operation, 19 collection stations, 12 collection points, two oil treatment stations, 6 collection and compressor stations, four water injection stations, 980km of gas and oil pipelines, and administrative bases of Taquipe, Santiago, Buracica, Araçás, and Fazenda Balsamo.
Additionally, the Bahia Terra cluster comprise two oil storage and handling parks with all the infrastructure for receiving, storing, and draining oil for the Landulfo Alves Refinery (RLAM), and the NGPU of Catu and 10 electrical substations.
Recently, Petrobras agreed to purchase the P-71 FPSO vessel for $353m, and use it for the development of the Itapu field.
