Petrobras' Divestment in the Northeast: State-Owned Company Puts Offshore Oil Fields in Ceará Up for Sale

Petrobras’ Divestment in the Northeast: State-Owned Company Puts Offshore Oil Fields in Ceará Up for Sale

Written by Flavia Marinho

Published on 05/11/2020 at 08:28

Nordeste: a venda dos campos de petróleo offshore, no Ceará, inclui a totalidade da participação da Petrobras em águas de Atum, Curimã, Espada e Xaréu

Be the first to react!

Northeast: The Sale of Offshore Oil Fields in Ceará Includes Petrobras’ Entire Stake in Atum, Curimã, Espada, and Xaréu

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

Read Also

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 conducting due diligence and submitting binding proposals.

Petrobras states that the Ceará Polo in the Northeast has been in operation since the 1980s, comprising the Atum, Curimã, Espada, and Xaréu fields, located 30 km from the coast of the state of Ceará, in water depths between 30 and 50 meters.

ARTICLE CONTINUES BELOW

See also

In 2019, the fields produced an average of 4,200 bpd of oil and 76,900 m³/d of gas. Production in the polo is carried out through 32 wells and nine fixed platforms (three of which are manned).

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

Oil produced from the assets is transported by shuttle tankers, while gas production is exported via pipelines to Lubnor, located in Fortaleza, which is also being sold by Petrobras.

Interested buyers may also receive all associated infrastructure with the field, including the Port of Paracuru and electrical substation in the municipality of Pecém, CE – Northeast.

Petrobras is the operator of these fields, holding a 100% stake in the exploration and production rights of the concession contracts pertaining to these fields.

Northeast – Petrobras’ Exit Could Create New Scenario for Ceará

With the divestment process of Petrobras in Ceará – Northeast, the state could become a pioneer in 100% privately-owned maritime production in Brazil, as all offshore oil and gas production in CE is limited to the four fields included in the sale.

The concession contract for the Atum, Xaréu, Curimã, and Espada assets is effective until 2025. Petrobras published the complete teaser where potential buyers can evaluate additional information as well as all eligibility criteria.

Petrobras’ Divestment in the Northeast: State-Owned Company Puts Offshore Oil Fields in Ceará Up for Sale

Northeast: The Sale of Offshore Oil Fields in Ceará Includes Petrobras’ Entire Stake in Atum, Curimã, Espada, and Xaréu

Read Also

Northeast – Petrobras’ Exit Could Create New Scenario for Ceará

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

An unmanned Russian ship has been drifting in the Mediterranean for 57 days with 60,000 tons of gas — the second towing attempt has just failed.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Earth does not always orbit around the Sun because planets like Jupiter shift the Solar System’s barycenter outside the star, and when the gas giants align, the point around which everything orbits truly changes.

São Francisco River may once again carry millions of tons: government studies reactivating 1,371 km of waterway to reach 505 municipalities, 11.4 million people and lower food prices in Brazil’s interior

China is building 5 cascade dams for $167 billion in Tibet — and the Motuo Project will have 70 GW of capacity, three times more than the world’s current largest power plant.

The city that crossed the “point of no return” may become a city surrounded by the ocean and is already discussing the planned evacuation of thousands of people.

Petrobras’ Divestment in the Northeast: State-Owned Company Puts Offshore Oil Fields in Ceará Up for Sale

Northeast: The Sale of Offshore Oil Fields in Ceará Includes Petrobras’ Entire Stake in Atum, Curimã, Espada, and Xaréu

Read Also

Northeast – Petrobras’ Exit Could Create New Scenario for Ceará

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

Toyota ends the Diesel era: new Hilux with up to 380 km of urban range brings 196 hp, 59.2 kWh battery, 4×4 traction and 715 kg of load capacity

An unmanned Russian ship has been drifting in the Mediterranean for 57 days with 60,000 tons of gas — the second towing attempt has just failed.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Oil sees sharp drop after rumors of a deal between the United States and Iran raise hopes for an end to the war in the Middle East.

Brazil’s oil production soars and hits an all-time high for the second consecutive month, driven by the pre-salt and the advancement of energy sector giants.

Oil price falls even with Trump’s threats to Iran and rising geopolitical tensions in the Middle East impacting global market expectations.

China discovers more than 200 new oil and gas fields in the last five years

Petrobrás indicates a strong first quarter in 2026 with high production, robust cash generation, and an expectation of up to $2.4 billion in dividends for shareholders.

Earth does not always orbit around the Sun because planets like Jupiter shift the Solar System’s barycenter outside the star, and when the gas giants align, the point around which everything orbits truly changes.

São Francisco River may once again carry millions of tons: government studies reactivating 1,371 km of waterway to reach 505 municipalities, 11.4 million people and lower food prices in Brazil’s interior

China is building 5 cascade dams for $167 billion in Tibet — and the Motuo Project will have 70 GW of capacity, three times more than the world’s current largest power plant.

The city that crossed the “point of no return” may become a city surrounded by the ocean and is already discussing the planned evacuation of thousands of people.