RIO DE JANEIRO – Petrobras has initiated the opportunity disclosure stage for the sale of half its share of the BM-S-51 concession in the Santos basin presalt polygon.
The location is in water depths of 350-1,650 m (1,148-5,413 ft), 215 km (134 mi) from the coast of São Paulo, with numerous presalt discoveries nearby.
Petrobras acquired the block under the ANP’s 7th Bidding Round in 2005. It is still in the first exploratory period, with a remaining commitment of one well to fulfil the minimum exploratory program.
The company operates with an 80% interest, the remaining 20% held by Repsol Sinopec Brasil.