Equities
Petrobras Signs $450 Million Contracts to Regain Full Ownership of Offshore Brazil Assets
Petrobras (PBR) said Thursday it signed contracts with Petronas Petroleo Brasil to acquire 50% stakes in the Tartaruga Verde and Espadarte - Module III fields in the Campos Basin offshore Brazil for $450 million, regaining full ownership in the assets.The company said $50 million was paid at signing, with $350 million to be paid upon closing. The deal consideration includes two deferred installments of up to $25 million each, according to Petrobras.The deal is subject to approval by Brazil's National Agency of Petroleum, Natural Gas and Biofuels.
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