Petrobras Announces It Will Sell Albacora and Albacora Leste Fields in Campos Basin

Today, Petrobras Announced Non-Binding Phase of Sale of All Its Concessions of Albacora and Albacora Leste in the Campos Basin

Petrobras announced that it will sell its concessions of Albacora and Albacora Leste, located in deep waters in the Campos Basin. The sale enters a non-binding phase. In this phase, interested parties will be able to submit initial proposals and access a virtual information room about the operation, which is part of Petrobras’ extensive divestment plan.

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The state-owned company recalled that the deal was aligned with the strategy to optimize the investment portfolio and improve the company’s capital allocation, and increasingly focused its resources on world-class assets, meaning more resilient assets in the face of volatility. Oil prices present lower risks and greater financial returns.

Albacora Field

It covers an area of 455 km2, located in the northern Campos Basin, about 110 kilometers from Cabo de São Tomé, on the northern coast of the State of Rio de Janeiro, in water depths of 100 to 1,050 m. Production in October reached 36,400 barrels of oil per day and 606,000 m3/day of gas. Operations are fully operated by Petrobras.

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Albacora Leste Field

It spans 511.56 km2 and is located in the northern part of the Campos Basin, with water depths ranging from 1,000 to 2,150 m, about 120 km from Cabo São Tomé. Last month, the field produced 30,000 barrels of oil per day and 703,000 m3/day of gas. Petrobras operates 90% of the field, and 10% is operated by Repsol Sinopec Brasil.