Perenco acquires shallow water fields in Campos basin

Perenco Brazil acquired Cherne and Bagre field concessions in Campos basin from Petrobras..

Aug. 5, 2025

Key Highlights

· Perenco acquired Petrobras’ shares in Cherne and Bagre fields in Campos basin.

· Production from the fields was halted in 2020, and their production platforms were mothballed.

Perenco Brazil acquired Cherne and Bagre field concessions in Campos basin from Petróleo Brasileiro SA (Petrobras).

Production stopped at the fields in March 2020, and their respective production platforms were mothballed. The transfer of these fields to Perenco includes compensation adjustments to be paid by Petrobras related to the asset’s integrity. Perenco Brazil’s mid-term production target from the Cherne and Bagre concessions is about 15,000 bo/d from an estimated 50 MMbbl of reserves.

Cherne and Bagre fields lie 73 km offshore Rio de Janeiro in 108-150 m of water. Until production was halted, the fields produced through the PCH-1 and PCH-2 platforms.

In addition to Cherne and Bagre fields, Perenco is operator (100%) of the Pargo Cluster comprising Pargo, Carapeba, and Vermelho fields in the shallow waters of Campos basin.

About the Author

Alex Procyk

Upstream Editor

Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).