The assets are operated by Petrobras, through the FPSO Cidade de Campos dos Goytacazes, with current production of about 55,000 bbl/d of oil.
Petrobras has informed partner Petronas Petróleo Brasil that it plans to exercise its pre-emptive rights to acquire the latter’s 50% interests in the Tartaruga Verde and Espadarte – Module III fields in the southern Campos Basin offshore Brazil.
Brava Energia had been negotiating a deal with Petronas. Upon completion of the transaction, Petrobras (already operator of the fields) will resume holding a 100% interest.
Tartaruga Verde and Module III of Espadarte are in water depths varying from 700 to 1,620 m. Production heads to the FPSO Cidade de Campos dos Goytacazes (currently about 55,000 bbl/d of oil).
Petrobras will eventually pay Petronas $450 million, although completion of the transaction remains subject to approval by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP).
This report offers a comprehensive overview of Brazil's offshore oil and gas industry in 2025, highlighting exploration successes, technological advancements and strategic developments...
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
