Petrobras Exiting Shallow Water Ceara Fields

Petrobras Exiting Shallow Water Ceara Fields
Petrobras is the operator in the four fields with 100 percent participation.

Petrobras has announced plans to sell its entire stake in the Tuna, Curimã, Espada and Xaréu fields, shallow water maritime production concessions in the Mundaú sub-basin, in the state of Ceará.

Operating since the 1980s, the cluster, which makes up the four fields, is 30 km from the coast of Ceará, in water depths between 30 and 50 meters. Average production in 2019 was 4,200 bpd of oil and 76,900 m³ / d of gas, through nine fixed platforms. Petrobras is the operator with 100% participation.

The asset sale is in line with the company’s plans to optimize its portfolio and improve capital allocation, and increasingly concentrate its resources in deep and ultra-deep waters.

The teaser with additional details about the opportunity is available at the company’s website.

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