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LatinNews Daily - 17 November 2020
In brief: Brazil’s Petrobras to reduce stake in pre-salt oil fields
* Brazil’s state-owned oil company, Petrobras, has announced that it has released a teaser on the sale of 50% of its stake in the production concessions of four oil fields – Marlim, Voador, Marlim Leste, and Marlim Sul, collectively known as the Marlim Cluster – in the deep water ‘pre-salt’ Campos basin. Petrobras will remain the operator of the fields. Petrobras’ executive manager for deep waters, Carlos José Travassos, has stated that this divestment initiative is not a move by the company to abandon its Campos activities, citing a revitalisation project in the Marlim field as a sign that Petrobras is seeking to increase this asset’s resilience. “This is a fundamental requirement for the continuity of our operations in more challenging scenarios”, Travassos said of the Marlim revitalisation project, which is part of a wider renovation plan for the Campos basin.
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