Monday, September 26, 2022

Petrobras selling off interest in exploration assets in Brazil’s Potiguar Basin

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Brazil’s state-controlled Petrobras has started the process to sell 40% of its interest in two exploratory deep-water concessions in the Potiguar Basin on the coast of Rio Grande do Norte.

The company currently has a 100% interest in these concessions and said it will continue to operate the partnership after the sale.

Petrobras shifting focus to deepwater assets, selling off shares in shallow & onshore clusters | OilNOW

The concessions include Blocks POT-M-853 and POT-M-855, exploratory blocks acquired in 2006 at the 7th Bidding Round of the National Petroleum Agency (ANP).

Petrobras is currently conducting an evaluation plan for the discovery of the Pitu well, with a firm commitment to drill an exploratory well – the Pitu Oeste well – in 2023. Meanwhile, Block POT-M-762 was acquired in 2018. Petrobras plans to drill the Anhangá well in 2023 or 2024.

Petrobras to add 14 FPSOs offshore Brazil in next four years | OilNOW

The state entity said that the search for partnership in the assets is aligned with its portfolio management strategy and the improvement of Petrobras’ capital allocation, aiming at maximising value and greater return to society.

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