Brazilian oil company Petrobras has sold its remaining stake in the Lapa offshore oil field in Brazil's Santos Basin to the French oil firm TotalEnergies.

The Brazilian national oil company said Wednesday said that the deal was concluded with the payment of $49.4 million to Petrobras.

The Lapa field, located in the Santos Basin pre-salt, started producing oil in 2016, via the MODEC-supplied FPSO Cidade de Caraguatatuba MV27.

Moored about 300 kilometers south of Rio de Janeiro in water depths of 2,126 meters, the FPSO is capable of processing 100,000 barrels of oil and 177 MM standard cubic feet of gas per day and has a storage capacity of 1,600,000 barrels of crude oil.

Petrobras said that the offshore oil field's average production in the first half of 2021 was 50.7 thousand boe/day, of which 5.07 thousand boe/day was Petrobras' share.

With the closing of the transaction, Petrobras will exit the Lapa field, while TotalEnergies, which is already the field operator, will hold 45%.  The other partners in the field are Shell Brasil Petróleo (30%) and Repsol Sinopec Brasil (25%).