Petrobras looking to exit Papa-Terra offshore Brazil
Feb. 5, 2020
Petrobras has initiated the opportunity disclosure stage for the sale of its 62.5% stake in the producing Papa-Terra oil and gas field offshore Brazil.
(Courtesy Chevron)
The Papa-Terra oil and gas field development offshore Brazil features the P-61 tension leg wellhead platform and the FPSO P-63.
Offshore staff
RIO DE JANEIRO – Petrobras has initiated the opportunity disclosure stage for the sale of its 62.5% stake in the producing Papa-Terra oil and gas field offshore Brazil.
Papa-Terra is in the BC-20 concession in the Campos basin in a water depth of 1,200 m (3,937 ft). Operations started in 2013 and production averaged 17,300 boe/ last year through the tension leg wellhead platform P-61 and the FPSO P-63, which also processes all the oil and gas.
Under a charter contract, a tender assist drilling rig operates alongside the P-61.
Petrobras operates the field in partnership with Chevron (37.5%).
The proposed divestment is in line with the company’s ongoing portfolio optimization/capital allocation improvement program.
