Report summarySépia (formerly Northeast of Tupi) is a pre-salt oil and gas discovery located in the Santos basin of Brazil. The field's reserves were included as part of the Transfer of Rights (TOR) agreement between the Brazilian government and Petrobras, signed in September 2010.First oil is scheduled for 2019, but we assume a more conservative 2020 start year. In August 2015, Petrobras issued a tender for a chartered FPSO with capacity to produce 180,000 b/d of oil and process 172 mmcfd (5 ...
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