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IS - Petrobras and Chevron to divest Papa Terra field off Brazil - February 2020

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Petrobras and Chevron plan to sell their respective stakes in the Papa Terra deepwater field off Brazil in the Campos Basin. The Brazilian NOC is marketing its operated 62.5% WI while the US-based supermajor is placing its 37.5% WI on the chopping block. Papa Terra, which is within the BC-20 concession, started its operation in 2013 and reached peak production of 24,000 boe/d a year later. Average production last year was 17,300 boe/d. Chevron......
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