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Albacora and Albacora Leste are in the Campos basin (Image: Petrobras)

Petrobras seen leaning towards PetroRio

in Albacora tender but may split fields

BRAZIL’S national oil company (NOC) Petro- statement reiterating that it had yet to determine
bras has reportedly named a consortium headed its next step. It also indicated that it might sell the
by PetroRio, an independent Brazilian firm, as fields as two separate assets.
the winner of a bidding contest for the Albacora “The company continues to analyse the offers
and Albacora Leste offshore oilfields. according to the evaluation criteria of this pro-
Four sources with knowledge of the matter ject and clarifies that, specifically for Albacora
told Reuters earlier this week that the NOC had Leste, it [has] started the process of receiving
chosen the offer submitted by PetroRio and its new proposals (rebid), in accordance with the
partner Cobra, a subsidiary of the French com- company’s internal rules,” it said. “To date, no
pany Vinci, over the offer made by a second con- decision has been made regarding Albacora,
sortium, led by US-based EIG Energy Global and the beginning of the negotiation phase for
Partners. Petrobras is now on track to begin both assets will be submitted to the company’s
negotiations with the first consortium, said the executive board for deliberation, after receipt
sources, who spoke on condition of anonymity. of the new proposals for Albacora Leste and the
As of press time, the sources’ information conclusion of the analysis of the offers.”
had not been confirmed. When contacted by The state-owned company has estimated the
Reuters earlier this week, Petrobras declined total value of the offers at more than $4bn.
to comment and referred the news agency to a Petrobras said in May 2020 that it had found
press statement that said the fields had not been new oil reserves at the Albacora field, which is in
assigned to a new investor. It also stressed that the pre-salt region of the Campos basin. It made
no decisions had been made about the fate of an announcement to this effect after encounter-
Albacora and Albacora Leste. ing oil shows over a 208-metre interval in a new
Then on October 7, Petrobras issued a well drilled about 184 km from Macaé City. ™

CNOOC set to raise stake in Búzios by 5%

STATE-OWNED China National Offshore Oil and will pay $2.08bn for another 5% of the off-
Corp. (CNOOC) looks set to proceed with its shore field.
plan to acquire an additional 5% stake in Búzios, However, its ability to do so hinges on the
one of the four offshore oilfields located within consent of the field’s third stakeholder – CNPC
Brazil’s Transfer of Rights (TOR) area. Exploration & Development Co. (CNODC),
CNOOC has already informed Brazil’s which is 50% owned by China National Petro-
national oil company (NOC) Petrobras that it leum Corp. (CNPC) and 50% owned by CNPC’s
wants to exercise an option to expand its stake main upstream subsidiary PetroChina.

P10 www. NEWSBASE .com Week 40 08•October•2021