Petrobras Puts More Fields up for Sale

Brazil's national oil company has put the Urucu cluster of onshore oil and gas fields up for sale, it announced on June 26.

The fields – Azul, Araracanga, Leste do Urucu, Rio Urucu, Sudoeste Urucu, Cupiuba and Carapanauba – collectively flowed 106,353 barrels of oil equivalent/day in the first quarter, of which there were: 16,520 barrels/day of oil and condensate, 14.28mn ft³/day of gas and 1,150 metric tons/day of liquid petroleum gas.

Petrobras said the sale was in line with strategy of optimising its portfolio and improving the allocation of its capital, as it looks to focus more on developing deep and ultra-deep offshore deposits. It has invited investors to bid for a number of its fields and other assets – most recently four shallow-water fields.