Papa-Terra field is part of the BC-20 concession and is located at a water depth of 1,200 meters.
The field started its operation in 2013 and its average oil and gas production in 2019 was 17,300 boe/day, through two platforms, P-61 type TLWP (tension leg wellhead platform) and P-63 type FPSO where the entire production is processed.
A Tender Assist Drilling (TAD) rig, through a charter contract, is installed along with P-61.
Petrobras is the operator of the field with a 62.5% stake, in partnership with Chevron, which holds the remaining 37.5%.
Petrobras is also undertaking a process to sell part of its equity interests in BM-PAMA-3 and BM-PAMA-8 Concessions, located at the Pará-Maranhão Basin.
Petrobras holds 100% of participating interest in BM-PAMA-3 concession and 80% of participating interest in BM-PAMA-8 concession, in partnership with Sinopec, which holds the remaining 20%. Petrobras is the operator. BM-PAMA-3 concession is in the appraisal phase, due to the discovery made in well 1-BRSA903-PAS (Harpia).
The remaining commitment is to drill one firm well and one formation test contingent on the well result.
BM-PAMA-8 concession is composed by the fields PAMA-M-192 and PAMA-M-194. The MEP related do the Second Exploratory Period is one exploration well in PAMA-M-192 field.
The offers must be submitted per concession, after which, Sinopec might exercise its right of preference to acquire the participating interest of Petrobras in BM-PAMA-8 concession.
