The binding offers have been made by two consortiums that include one led by Enauta, with 3R Petroleum and US private equity fund EIG Global Energies as partners, while the other consists of PetroRio and Spain’s Cobra Group
Albacora cluster is located in deep waters of the Campos basin, offshore Brazil. (Credit: C Morrison from Pixabay)
Brazilian state-owned company Petrobras has received bids worth more than $4bn for the divestment of the Albacora and Albacora Leste fields.
The concessions are located in deep waters of the Campos basin, offshore Brazil.
The binding offers have been made 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.
Petrobras stated: “The company is analyzing them according to the evaluation criteria of this project, considering all value components and other conditions reflected in the offers, including firm and contingent payments and other relevant contractual conditions.
“The start of the negotiation phase will be submitted for deliberation by the company’s Executive Board, after the conclusion of the analysis of the offers.”
Covering an area of 455km2, the Albacora field lies in the northern area of the Campos basin and in water depths of 100-1,050m. It is located about 110km from Cabo de São Tomé, on the northern coast of Rio de Janeiro.
Petrobras is the 100% operator of the field, which produced an average 23,200 barrels per day (bpd) of oil and 408,500 cubic metres per day (m3/d) of gas in 2020.
Located in water depths of 1,000-2,150m, the Albacora Leste field is spread over an area of 511.5km2 in the northern area of the Campos basin. It 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%.
The Brazilian firm stated: “The company clarifies that the signing of the transaction will depend on the outcome of the negotiations, as well as the necessary corporate approvals.”
Separately, Petrobras has announced that China National Offshore Oil Corporation (CNOOC) has expressed interest to exercise an option to buy an additional stake of 5% in the Búzios field, offshore Brazil for $2.08bn.