Petrobras to sell stake in Merluza and Lagosta fields of Santos Basin

Petrobras has launched the sale process of its stake in the Merluza and Lagosta fields, contained in the shallow waters of the Santos Basin, Brazil.

The Brazilian national oil company said that the sale of is stake in the Santo Basin fields is in line with the optimization of its portfolio and also for improving its capital allocation, aimed at maximizing value for its shareholders.

Located in a water depth of 135 meters, the Merluza fixed platform (PMLZ-1) has been operating since 1993, which makes it the oldest platform to operate in the Santos Basin. The PMLZ-1 platform produces natural gas and condensate from the Merluza field and since 2009 has been producing from the Lagosta field as well.

In 2019, the average production of the Merluza and Lagosta fields was 3.6 thousand boe/day.