Brazilian state-owned energy giant Petrobras has signed on the dotted line to buy Petronas Petroleo Brasil Ltd. (PPBL), a subsidiary of Malaysian energy giant Petronas, secures sole ownership of two assets in the Campos Basin offshore Brazil.
with Intent to recover interest 100% in Green turtle field and The third unit of the Aspadart In this area, Petrobras signed deals to acquire Petronas’ 50% stake in these assets. Upon completion, the Brazilian player will once again be the sole owner and operator of the stadiums.
The value of the deal is $450 million, of which $50 million will be paid upon signing. $350 million at closing, subject to adjustments relating to the effective date of the transaction of July 1, 2025; and two deferred installments, of up to $25 million each, to be paid 12 and 24 months after closing, respectively.
The amounts to be disbursed by Petrobras will be adjusted for discounts related to the economic results of the asset since July 1, 2025. Completion of the acquisition is subject to the fulfillment of the conditions precedent described in the purchase and sale agreement, including the approval of the Brazilian National Agency for Petroleum, Natural Gas and Biofuels (ANP).
The Tartaruga Verde field and the third Espadarte unit are located in the southern part of the Campos Basin, in water depths ranging from approximately 700 to 1,620 metres. Asset production passes through FPSO Cidade de Campos dos GoytacazisIts current production is about 55 thousand barrels of oil per day.
Petrobras is increasing its oil and gas production in Brazil, as evidenced by several aspects Extension rig The deals that the company has recently awarded to several players and the contract concluded with Subsea7 Working in the field Santos Basin Development Project.
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