The transfer of rights, called “Cessão Onerosa” in Brazil says that Petrobras can pay the costs and take the production risks in return for as much as 5 Bbbl of oil from the presalt clusters. The transfer of rights project will encompass 10 final production clusters.
Tenders for four of such clusters are still being prepared. The bidding process for the new projects is in progress, including tenders for the Sépia oil field.
Bidders for Sépia should submit proposals no later than Dec. 10.
Commercial operation of Buzios is expected to start in May 2017, with Itaipú to follow in 2019.
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