Petrobras offers production rights of 50 onshore oil fields

Petrobras offers production rights of 50 onshore oil fields

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Vitor Abdala reports from Agência Brasil

Brazil’s government-run oil giant Petrobras released a list with 50 onshore oil fields it plans on selling located in the northeastern states of Rio Grande do Norte and Bahia. The firm will give away its exploration, development and production rights in their entirety in three groups of fields in the two states.

The fields are located in the sectors of Riacho da Forquilha (34 fields), in Rio Grande do Norte; Buracica (seven fields), and Miranga (nine fields), both of which in Bahia. The oil and natural gas output in the fields averages 20.3 thousand barrels of oil equivalent.

Petrobras is the operator with 100% of the stake in 46 such fields. In the other fields, also in Riacho da Forquilha, the stake of the state-controlled company ranges from 30% to 70%.

Translated by Fabrício Ferreira

Edited by: Maria Claudia / Nira Foster