Petrobras exercises transfer of rights on Itaipú, Búzios offshore Santos basin presalt clusters

Offshore staff

RIO DE JANEIRO Petrobras says the Itaipú 1 and Búzios 6 FPSOs are set for use in each’s oil field in the presalt Santos basin under the transfer of rights rule.

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.

10/07/2015

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