3R Petroleum Offshore takes charge of Papa-Terra offshore Brazil

Petrobras has completed the sale of its interest in the producing Papa-Terra Field in the Campos Basin offshore Brazil to 3R Petroleum Offshore.
Jan. 3, 2023

Offshore staff

RIO DE JANEIRO, Brazil  Petrobras has completed the sale of its interest in the producing Papa-Terra Field in the Campos Basin offshore Brazil to 3R Petroleum Offshore.

In addition to monies already received for the transaction, Petrobras could net up to $80.4 million in future payments, based on Brent prices and further field development.

3R Offshore now operates Papa-Terra with a 62.5% stake, with Nova Técnica Energy holding the remaining 37.5%.

The field is in 1,200 m of water in the BC-20 concession. Operations started in 2013, with recent output of about 16,200 bbl/d of oil through the P-61 tension-leg wellhead platform and the P-63 FPSO, which processes all production.

01.03.2023

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