Petrobras will acquire Petronas' 50% stakes in the Tartaruga Verde and Espadarte Module III offshore fields, located in the Campos Basin. This transaction, valued at $450 million, will give Petrobras 100% ownership and operatorship of these assets. The deal is pending approval from Brazil's oil and gas regulatory authority.

Strategic and Operational Rationale

Petrobras stated the acquisition presents attractive economic and financial conditions and aligns with its core business strategy. The fields are situated in a prolific southern section of the Campos Basin and currently produce approximately 55,000 barrels of oil per day through the Cidade de Campos dos Goytacazes FPSO vessel.