Petrobras has decided to sell its entire stake in the mothballed Cherne and Bagre offshore oilfields to independent hydrocarbons company Perenco Petróleo e Gás do Brasil, the Brazilian NOC announced on Wednesday.
The fields are located in shallow waters in the Campos Basin and have been lying idle since Petrobras interrupted production in 2020 and mothballed the platforms on the site.
Perenco will pay USD 10 million for the assets, subject to adjustments.
Petrobras noted that the resumption of production under Perenco’s operatorship is a more advantageous option than decommissioning the facilities and relinquishing the concession. It also allows Petrobras to focus on assets that are more in line with its strategy, which includes decarbonising its operations.