Production

Petronas joins two deepwater Campos basin fields

Dec. 30, 2019

Petrobras has completed the sale of 50% of E&P rights to the Tartaruga Verde field and Module III of the Espadarte field, both in the Campos basin offshore Brazil, to Petronas Petróleo Brasil for $691.9 million.

The FPSO Cidade de Campos dos Goytacazes MV29 operates at the Tartaruga Verde field in the Campos basin offshore Brazil.

Offshore staff

RIO DE JANEIRO – Petrobras has completed the sale of 50% of E&P rights to the Tartaruga Verde field (in the BM-C-36) and Module III of the Espadarte field, both in the Campos basin offshore Brazil, to Petronas Petróleo Brasil for $691.9 million.

The arrangement adds a new upstream player to Brazil, Petrobras said, also strengthening the company’s deepwater E&P partnership strategy.

Petrobras will retain a 50% stake and operation of both fields.

Tartaruga Verde started production in June 2018 and has a current output of around 103,000 b/d of oil and 1.2 MMcm/d of gas.

Module III is an area that will be developed in integration with the Tartaruga Verde facilities, with first oil anticipated in 2021.

12/30/2019