Perenco acquires Cherne and Bagre concessions from Petrobras

Perenco completed the acquisition of the Cherne and Bagre concessions from Petrobras. The acquisition comprises the fields and two fixed platforms, located 27 km from the Pargo Cluster in 120-140 m water depth. These platforms, PCH-1 and PCH-2, were hibernated by Petrobras in early 2020 and later scheduled for decommissioning.

Perenco’s mid-term production target from the Cherne and Bagre concessions is around 15,000 barrels of oil per day (bopd), which when combined with Pargo would see production of 35,000 bopd.

Perenco Brazil holds a 100% stake in the Pargo Cluster, which comprises the Pargo, Carapeba and Vermelho fields located offshore in the shallow waters of the Campos Basin, off the coast of Rio de Janeiro. The Pargo concession area is developed by eight fixed platforms in up to a 100-m depth.