Brazilian state-owned company Petrobras has chosen a consortium led by PetroRio for the sale of Albacora and Albacora Leste offshore oil fields in the Campos Basin.

The selection was based on the analysis of the proposals received for the divestment of the two oil fields.

Located in deep waters of the Campos basin, offshore Brazil, the two concessions attracted bids worth more than $4bn in September this year.

The binding offers were submitted by two consortiums that include one led by Enauta, with 3R Petroleum and US private equity fund EIG Global Energies as partners. The other consortium consists of PetroRio and Spain’s Cobra Group.

In a statement, Petrobras said: “The company clarifies that, depending on the terms of the contracts negotiated, there could be a final round of offers. The conclusion of the transaction will depend on the outcome of the negotiations, as well as the necessary corporate approvals.”

With an area of 455km², the Albacora field is situated in the northern area of the Campos basin and in water depths of 100-1,050m.

The field is located around 110km from Cabo de São Tomé, on the northern coast of Rio de Janeiro.

The Albacora Leste field, which is situated in water depths of 1,000-2,150m, is spread over an area of 511.5km2 in the northern area of the Campos basin.

The field produced an average of 30,900bpd of oil and 598,000m3/d of gas last year.

Petrobras is the operator of the field with a 90% stake, while Repsol Sinopec Brasil owns the remaining 10%.

In August this year, Petrobras entered into talks with 3R Petroleum to divest its Potiguar cluster assets to the latter for more than $1bn.