Petrobras Goes Forward with Tartaruga Field Stake Sale

(Credit: Petrobras)

Petrobras has started the binding phase for the total transfer of its 25% minority interest in the exploration, development, and production of oil and natural gas in the Tartaruga Field, located in the shallow waters of the Sergipe‐Alagoas Basin in Brazil.

The field is operated by SPE Tiêta (Petrorecôncavo) in the municipality of Pirambu-SE.

As part of the binding phase, qualified potential buyers phase will receive an invitation letter (process letter) with detailed instructions regarding the ongoing process, including instructions for conducting due diligence and submitting binding proposals.

The Tartaruga field is located on the northern coast of the State of Sergipe, in the shallow waters of the Sergipe‐Alagoas Basin. The wells were directionally drilled from a land-based facility within the field.

Petrobras' share of production from the Tartaruga Field, based on the 2024 average, was approximately 41 barrels of oil per day (bpd) and 689 m3/day of associated gas.

Petrobras holds a 25% stake in the asset, while SPE TIETA (a company controlled by Petrorecôncavo) holds operating share of 75%.