Petrobras assumes full ownership of Campos Basin fields, subject to approvals
Petrobras has signed contracts to acquire Petronas’ 50% stakes in the Tartaruga Verde and Espadarte – Module III fields in the southern Campos Basin offshore Brazil.
The proposed deal was first announced in mid-March. Assuming approval from Brazil’s ANP agency for the $450-million transaction, Petrobras will remain operator with a 100% interest in the fields.
Tartaruga Verde Field and Module III of Espadarte is in water depths ranging from 700 to 1,620 m, both producing to the FPSO Cidade de Campos dos Goytacazes. Current production is about 55,000 bbl/d of oil.
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About the Author
Jeremy Beckman
Editor, Europe
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.