Petrobras Announced Yesterday (November 29) Another Sale of Its Entire Stake in an Exploration Block; Transfer of the Catuá Field in the Campos Basin Aims to Focus on the Deep and Ultra-Deep Water Fields of the Pre-Salt

Petrobras Is The Operator, With 100% Participation. There Are 4 Wells Drilled In The Catuá Field, Of Which 3 Found Light Oil In Carbonate Reservoirs.  

The Brazilian oil company Petrobras announced last night (11/29), following up on the announcement made on October 22, 2021, the start of the binding phase regarding the full sale of its participation (100%) in the Catuá Field, which belongs to the BC-60 Exploratory Block, located in the Campos Basin, in the state of Espírito Santo.

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According to the state-owned company’s announcement, potential buyers qualified for this phase will receive an invitation letter with instructions on the divestment process, including guidance for conducting due diligence and submitting binding proposals, Petrobras said.

“This operation aligns with the company’s portfolio management strategy and improves its capital allocation, aiming to maximize value and provide greater returns to society”, said Petrobras.

The sale of the asset in the Campos Basin aims to increasingly concentrate Petrobras’s resources on deep and ultra-deep water assets, where the company has demonstrated a significant competitive advantage over the years, producing higher quality oil and with lower greenhouse gas emissions.

Petrobras Is The Operator Of The Catuá Field, With 100% Participation

Contract No. 48000.003560/97-49 refers to the exploratory concession of Block BC-60 acquired in Round Zero of the National Agency of Petroleum, Natural Gas and Biofuels (ANP). This contract has Petrobras as the operator, with 100% participation, and encompasses other fields besides the Catuá Field, which will not be part of the current rights transfer process.

The concession area is located in territorial waters of the State of Espírito Santo, about 128 km from the coast, in water depths ranging from 1,700 to 1,950 m.

There Are 4 Wells Drilled In The Catuá Field, Of Which 3 Found Light Oil In Carbonate Reservoirs.