Petrobras seeking buyers for Tartaruga field interest offshore Brazil

Petrobras has initiated the binding phase of an offer of its 25% stake in the producing Tartaruga oil and gas field in the shallow-water Sergipe-Alagoas Basin.

SPE Tiêta (controlled by Petrorecôncavo) is the operator.

Qualified bidders will receive an invitation letter containing instructions, including for conducting due diligence and submitting binding proposals.

The Tartaruga field is onshore/offshore the northern coast of Sergipe State in the municipality of Pirambu. Its wells have been directionally drilled from a land-based pad over the field.

Petrobras' share of production last year averaged 41 bbl/d of oil and 689 cu m/d of associated gas.

The company tried to offload its interest in Tartaruga in April 2022, when Maha Energy Brasil was the operator.