Bagre

Location

The Bagre and Cherne fields are located in the Campos Basin, which is a major oil-producing region offshore Brazil. Specifically, these fields are situated approximately 73 kilometers from the coast of the state of Rio de Janeiro.

Water Depth

The fields are in shallow waters, with depths ranging from 108 meters to 150 meters.

Current Status

As of March 2020, production from the Bagre and Cherne fields was interrupted, and the platforms (PCH-1 and PCH-2) associated with these fields have been mothballed. However, with the recent sale to Perenco, plans are in place to restart production.

Sale and New Operator

Petrobras' board approved the sale of its interests in the Bagre and Cherne fields to Perenco Petróleo e Gás do Brasil. Perenco, which has experience operating other fields in the same basin since 2019, will pay Petrobras $10 million for the acquisition. This deal is considered more advantageous than decommissioning the facilities and relinquishing the concessions to the Brazilian National Petroleum Agency (ANP).

Workforce and Operations

Most of Petrobras’ teams that worked on the Bagre and Cherne fields have been redirected to other activities. The workforce maintaining the platforms will be integrated into other Petrobras operations following the completion of the transaction.

Historical Context

The fields were acquired by Petrobras under the ANP’s Zero Bid Round. The decision to sell these fields is part of Petrobras' strategic realignment and asset optimization.

Future Plans

Perenco plans to reactivate oil production from the Bagre and Cherne fields, which is expected to revitalize the dormant operations in the area.