Northeast: the sale of the offshore oil fields, in Ceará, includes Petrobras' entire stake in the waters of Atum, Curimã, Espada and Xaréu

Petrobras announced yesterday (04/11) divestments in the Northeast, the state-owned company began the binding phase referring to the sale of its entire stake in the offshore oil fields in shallow waters of Atum, Curimã, Espada and Xaréu (Polo Ceará), located in the State of Ceará. Petrobras also announced the sale of other oil fields, located in the Recôncavo and Tucano Basins, in Bahia.

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According to the state-owned company, potential buyers qualified for this phase will receive an invitation letter with instructions on the divestment process, including guidelines for carrying out due diligence and for sending binding proposals.

Petrobras informs that the Ceará Pole, in the Northeast, has been in operation since the 80s, and comprises the fields of Atum, Curimã, Espada and Xaréu, located at a distance of 30 km from the coast of the state of Ceará, in lamina d' water between 30 and 50 meters.

In 2019, the fields produced, on average, 4,2 thousand bpd of oil and 76,9 thousand m³/d of gas. Production at the hub is carried out through 32 wells and nine fixed platforms (three of which are inhabited).

However, the offshore fields of the Ceará Basin - Northeast, have been paralyzed since the end of March, due to low oil prices and the coronavirus crisis.

The oil production in the assets is offloaded by shuttle tankers, while the gas production is exported by pipeline to Lubnor, located in Fortaleza, which is also being sold by Petrobras.

Those interested in the purchase can also be contemplated with all the infrastructure associated with the field, including the Port of Paracuru and an electrical substation in the municipality of Pecém, CE – Northeast.

Petrobras is the operator in these fields, with a 100% interest in the exploration and production rights in the concession contracts referring to these fields.

Northeast – Exit of Petrobras may create a new scenario for Ceará

With Petrobras' divestment process in Ceará - Nordeste, the state can become a pioneer in 100% private offshore production in Brazil, since all offshore oil and gas production in the CE is restricted to the four fields that are included in the sale .

The term of the concession contract for the Atum, Xaréu, Curimã and Espada assets is up to 2025. teaser complete, in which potential buyers can evaluate further information as well as all eligibility criteria.