Petrobras, Sonangol release teaser for Potiguar basin asset sale

Petróleo Brasileiro SA (Petrobras) and Sonangol Hidrocarbonetos Brasil Ltda. (Sonangol) have started the teaser stage for sale of the total stakes of both companies in the onshore exploratory block POT-T-794, part of the BT-POT-55A concession, in the Potiguar basin of Rio Grande do Norte, Brazil.

Petrobras holds a 70% stake in the BT-POT-55A concession. Songangol, as operator, holds the remaining 30%. The consortium has drilled two wells in the area, one gas discoverer and one appraisal well. There are no remaining commitments to be fulfilled. The discovering well (1-STAR-8-RN) lies at the southwest end of a trend of oil and gas producing fields that extends to Estreito field, Petrobras said.

The main targets are Cretaceous sandstones from Upanema Member of Alagamar formation, representatives of alluvial fan deposits and fluvial environments, locally sealed by shales within the Alagamar formation, in a domic structure closed against a fault plane, Petrobras continued.