Petrobras Starts Bidding Phase For Sale Of Urugua And Tambau Fields

Brazilian state-owned oil and gas company Petrobras has started the bidding phase for the sale of the Uruguá and Tambaú fields located in the Santos Basin offshore Brazil.

Petrobras released the teaser, and with it started the sales process, for the Uruguá and Tambaú fields in September.

The company said in a statement that the bidding phase for the sale of all its interest in the Uruguá and Tambaú fields was underway.

Located in the northern portion of the Santos Basin, between 85 and 100 miles off the coast of the state of Rio de Janeiro, in water depths ranging from 3,300 and 5,000 feet. Both fields are within the BS-500 concession.

The concession was acquired through the Zero Round of the National Agency of Petroleum, Natural Gas, and Biofuels (ANP). In 2020, the fields’ production was approximately 5,000 bpd of oil and 32.4 million cubic feet per day of gas. Petrobras holds a 100 percent stake in both fields.

Petrobras stated that the transaction is aligned with the strategy of portfolio management and the improvement of the company’s capital allocation, aiming to maximize value and provide a higher return to society.

The company is increasingly concentrating its resources on assets in deep and ultradeep waters, where it has shown a higher competitive differential over the years, producing better quality oil and lower greenhouse gas emissions.

Apart from these two fields, Petrobras announced the sale of its interest in a company that owns stakes in 15 offshore fields in the U.S. Gulf of Mexico. The company is selling the 20 percent stake held by its subsidiary Petrobras America in the Texas-based company MP Gulf of Mexico (MPGoM).

Just days ago, Petrobras started the process for the sale of its entire interest in the Catuá field, located in Brazil’s Campos Basin.

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