Overview
- Petrobras notified Petronas on March 17 that it will acquire the remaining 50% in Tartaruga Verde and Espadarte Module III, restoring 100% ownership and operatorship.
- $50 million is due at signing, $350 million at closing with adjustments to an effective date of July 1, 2025, followed by two $25 million installments 12 and 24 months after closing.
- Brava Energia terminated its January purchase agreement after Petrobras exercised its right and will be reimbursed for the amount paid at signing, subject to contractual adjustments.
- The southern Campos Basin assets produce about 55,000 barrels of oil per day via the FPSO Cidade de Campos dos Goytacazes from 14 wells in water depths of roughly 700 to 1,620 meters.
- Petrobras says the deal offers attractive economics and aligns with its plan to prioritize higher-value oil and gas assets and increase portfolio management flexibility.