-- Petroleo Brasileiro has signed a deal to acquire back stakes in two offshore fields from Petronas Petroleo Brasil for $450 million, as the producer consolidates control over key assets in the Campos Basin, the companies said on Friday.
The deal will see Petrobras acquire the remaining 50% interest in the Tartaruga Verde field and in Module III of the Espadarte field, restoring full ownership and operating of both assets.
Petrobras said the transaction is structured with staged payments, including $50 million paid at signing and $350 million due at closing, subject to adjustments tied to the effective date of July 1, 2025.
The energy firm said additional deferred payments of up to $50 million will be made in two installments over the following two years, contingent on the assets' performance.
The final consideration will be adjusted to reflect economic results generated by the fields since mid-2025, potentially lowering the overall payout.
The companies said the completion of the deal remains subject to regulatory approval from the National Agency of Petroleum, Natural Gas and Biofuels and other customary conditions.