Petróleo Brasileiro SA (Petrobras) has started the binding phase of the sale of all of its stakes in the Albacora and Albacora Leste concessions which lie predominantly in deep waters of the Campos basin, offshore Brazil (OGJ Online, Sept. 25, 2020; Nov. 18, 2020).
Potential buyers qualified for this phase will receive a process letter with instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.
The 455-sq km Albacora field lies in the northern area of the Campos basin, in water depths of 100-1,050 m, about 110 km from Cabo de São Tomé, on the northern coast of Rio de Janeiro. In 2020, Albacora produced an average 23,200 b/d of oil and 408,500 cu m/day of gas. Petrobras is operator of the field with 100% interest.
The 511.56-sq km Albacora Leste field lies in the northern area of the Campos basin, in water depths of 1,000-2,150 m about 120 km from Cabo de São Tomé. In 2020, Albacora Leste produced an average of 30,900 b/d of oil and 598,000 cu m/day of gas. Petrobras is operator with a 90% interest. Repsol Sinopec Brasil holds the remaining 10%.