Brazilian oil company Petrobras has put up its onshore fields, located across four states in Brazil, for sale.
The company plans to sell its exploration, development and production rights in the five sets of onshore fields, totaling 19 concessions. These are located in the states of Ceará, Rio Grande do Norte and Sergipe.
Of the total, Fazenda Belém and Icapuí fields are located in the Fazenda Belém Cluster in the state of Ceará.
Other fields include Aratum, Lagoa do Aroeira, Macau, Porto Carão, Salina Cristal, Sanhaçu and Serra in the Macau Cluster in the state of Rio Grande do Norte.
In the state of Sergipe, there are three clusters – Sergipe Terra Cluster 1, 2 and 3. These clusters contain the fields including Aruari, Angelim, Aguilhada, Atalaia Sul, Brejo Grande and Ilha Pequena, Castanhal, Mato Grosso and Sirizinho, Riachuelo.
The company claims that on an average, the oil and natural gas production in these fields was 17.4 thousand barrels of oil equivalent per day in 2016.
Petrobras is the operator of all of the fields with 100% stake, except for the Sanhaçu field located in the state of Rio Grande do Norte. In this field, the company operates and holds a 50% stake, while Petrogal holds the remaining 50% stake.
The company stated that the main subsequent phases of each of the five clusters will be disclosed, starting with a non-binding phase wherever applicable, concession of exclusive negotiation if applicable and approval of transaction by its senior management, signature of contracts and closing.
Petrobas also said that the disclosure is in compliance with the Federal Accounting Court (TCU – Tribunal de Contas da União) and it does not constitute an offering under the US securities laws and is not a solicitation, invitation or offer to buy or sell any securities.
In August, the company started a process to sell 50 of its onshore oil and gas fields. These oil fields are present the states of Rio Grande do Norte and Bahia.