Petrobras Launches Binding Phase for Ceará Cluster Fields Sale


November 4, 2020
Credit: Petrobras (file image)

Credit: Petrobras (file image)

Brazilian oil firm Petrobras has announced the start of the binding phase for the sale of its ownership in shallow-water fields in the Ceará Cluster, located in the state of Ceará, Brazil.

The fields comprising the Ceara Cluster are Tuna, Curimã, Espada, and Xaréu fields in which Petrobras owns 100 percent.

The Ceará Cluster, located at a distance of 30 km from the coast of the state of Ceará, in water depth between 30 and 50 meters, has been in operation since the 1980s.

The average production in 2019 was 4.2 thousand bpd of oil and 76.9 thousand m³/d of gas, through nine fixed platforms.

Petrobras said the sale was in line with the portfolio optimization strategy and the improvement of the company’s capital allocation, increasingly concentrating its resources in world-class assets in deep and ultra-deep waters.

Petrobras said that potential buyers qualified for the binding phase of the Ceará Cluster sale would receive a process letter with detailed instructions on the divestment process, including guidelines for due diligence and the submission of binding proposals.

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