en.Wedoany.com Reported - Petrobras has announced that it has signed a contract with Petronas Petróleo Brasil Ltda to acquire a 50% stake in each of the Tartaruga Verde field and the third module of the Espadarte field in the Campos Basin. Upon completion of the transaction, Petrobras will once again hold 100% ownership of these assets and will continue to serve as the operator. This move follows up on the company's announcement on March 16, 2026.

The total value of the transaction is $450 million, with specific payment arrangements including: $50 million paid on the date of contract signing; $350 million paid at closing, subject to adjustments based on the effective date of the transaction (July 1, 2025); and two deferred payments, each not exceeding $25 million, payable 12 and 24 months after closing, respectively. The actual amount paid by Petrobras will be adjusted by discounting the economic results generated by the assets since July 1, 2025.

The final completion of the transaction is subject to the fulfillment of conditions precedent stipulated in the purchase and sale agreement, including approval from Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP).

The Tartaruga Verde field and the third module of the Espadarte field are located in the southern part of the Campos Basin, at water depths ranging from approximately 700 to 1,620 meters. These assets are currently operated via the FPSO Cidade de Campos dos Goytacazes, with a current daily production of approximately 55,000 barrels of oil.

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