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Brazil: Petrobras releases E&P teaser for the Tartaruga field in the Sergipe-Alagoas Basin


01 Jul 2020

Photo - see caption

Petrobras has started the opportunity disclosure stage (teaser), referring to the sale of its entire stake in the Tartaruga field, located in shallow waters of the Sergipe-Alagoas Basin, state of Sergipe.

The teaser, which includes key information about the opportunity, as well as the eligibility criteria for selection of potential participants, is available on the Petrobras website: https://www.investidorpetrobras.com.br/en/results-and-notices/teasers.

The main subsequent stages of the project will be reported to the market in due course.

This disclosure complies with the Petrobras' divestment guidelines and with the provisions of the special procedure for assignment of rights to exploration, development and productionof oil, natural gas and other fluid hydrocarbons,provided for in Decree 9,355/2018.

This transaction is in line with the portfolio optimization strategy and the improvement of the company’s capital allocation,increasingly concentrating itsresources in deep and ultra-deep waters, where Petrobras has demonstrated great competitive edge over the years.

Photo - see caption
Location of the Tartaruga field (TTG)

About the Tartaruga field

Tartaruga field, belonging to the Concession Area SES-107D, is located on the northern coast of the state of Sergipe, in the municipality of Pirambu, in shallow waters of the Sergipe-Alagoas Basin. The field wells were drilled directly (from onshore to offshore), from the base located in the onshore portion of the ring-fence. The field's average production, from January to May 2020, was approx. 580 bpd of light oil (37º API).

Petrobras holds a 25% stake in the field and Maha Energy Brasil is the operator, with a 75% stake.

Original article link

Source: Petrobras





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