Petróleo Brasileiro SA (Petrobras) has started the binding phase of the sale of its entire stake in Uruguá and Tambaú fields in the northern portion of the Santos basin offshore Brazil.
Potential buyers qualified for this phase will receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.
The fields lie in the BS-500 concession about 140-160 km off the coast of Rio de Janeiro, in water depths of 1,000-1,500 m. Production from the fields, in 2020, was about 5,000 b/d of oil and 918,000 cu m/day of gas. Petrobras holds 100% stake in both fields.
The main accumulation discovered comprises Campanian-aged turbidite sandstones belonging to the ItajaíAçu formation. There are three gas producing intervals (Santonian-Turonian) in Uruguá and one gas producing interval (Albian) in Tambaú.
The potential transaction includes the Uruguá-Mexilhão gas pipeline, which is about 174 km long, between Uruguá field and Mexilhão platform, and the option of signing an oil and gas purchase and sale agreement(s) with Petrobras, the company said.