Petrobras to try again to sell Tartaruga oilfield

Petrobras, Brazil’s state-run oil company, plans to restart the process to sell its stake in the shallow-water Tartaruga oilfield offshore the state of Sergipe, near the easternmost point of the country.

Petrobras owns 25% of the field. Maha Energy, which operates the oilfield, owns the other 75%.

In August 2020, the company started the binding phase for the sale of its stake in the field. However, as a sale was not made, the process will now begin again.

“The main subsequent stages of the project will be reported to the market in due course,” said Petrobras.

“This transaction is in line with the company’s portfolio management strategy … Petrobras continues to concentrate its resources on assets in deep and ultradeep waters, where it has shown a great competitive differential over the years, producing better quality oil and lower greenhouse gas emissions,” said the company.

Average production of the Tartaruga field in 2021 was approximately 222 bpd of light oil (37º API) and 4,660 m³/day of associated gas.

Kim Biggar

Kim Biggar started writing in the supply chain sector in 2000, when she joined the Canadian Association of Supply Chain & Logistics Management. In 2004/2005, she was project manager for the Government of Canada-funded Canadian Logistics Skills Committee, which led to her 13-year role as communications manager of the Canadian Supply Chain Sector Council. A longtime freelance writer, Kim has contributed to publications including The Forwarder, 3PL Americas, The Shipper Advocate and Supply Chain Canada.
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