Petrobras to sell stake in Turtle field

Petrobras began the process of total sale of its stake in the Turtle field, located in the shallow waters of the Sergipe-Alagoas Basin. The announcement was made on Monday (30).

The sale process begins with the teaser, which is the disclosure of the opportunity where the company announces the main information on divestment and eligibility criteria for potential Participants. It is worth remembering that the state has a 25% stake in the field, of which Maha Energy is the operator, with a 75% stake, according to the Petrobras itself.

An important fact is that the sale in the Turtle field is aligned with the company's portfolio improvement strategy. Petrobras has made divestments seeking to reduce its debt and increase production and exploitation resources in deep and ultra-deep waters.

In the most, the Turtle field is located on the coast of State of Sergipe, in the municipality of Pirambu, and had an average production of 580 barrels light oil day between January and May 2020.

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