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Petrobras to sell 50% stake in the famed Marlim oil cluster

Petrobras Marlim cluster_GBO_Image

The Marlim cluster is located in the Campos Basin, offshore Brazil

Brazilian state-owned oil giant Petrobras is planning to sell 50 percent of its stake in the legendary deep-water Marlim oil cluster. The oil cluster is located in the Campos basin, offshore Brazil and it comprises four production concessions.

Petrobras is looking to sell its stakes in the four deepwater concessions which are Marlim, Voador, Marlim Leste and Marlim Sul. The cluster produces 217,000 barrels of oil per day, or almost 10 percent of Petrobras’ total output. It is reported that Petrobras will remain the operator of the cluster even after the completion of the stakes sale. 

According to a recent statement, Petrobras said that it is planning to conclude decommissioning of the P-VII, P-XII and P-XV, PCA-1, PCA-2, PCA-3 and Piranema Spirit offshore platforms by 2021. “The 2021-2025 strategic plan is in the final stage of approval and will be announced soon. After its approval, the values involved in the decommissioning operations and a new schedule for the removal of the platforms could be announced,” it added. 

Last month, Petrobras announced in a securities exchange filing that it is also planning to spend around $6 billion till 2024 to decommission 18 offshore platforms, underwater gas pipelines and offshore wells.

It was during the same time that the company held talks with a global consortium consisting of Brazil’s 3R Petroleum and Norway-linked DBO Energy among others. The discussions were in regard to selling its natural gas fields.  The Peroa cluster would be among the first offshore all-gas fields sold by Petrobras. 

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