AcquisitionsApr 28, 2026, 06:07 AM
PBR Acquires Argonauta Field Portion for R$700M + $150M
AI Summary
Petrobras (PBR) announced an agreement to acquire 100% of a portion of the Argonauta Field ring-fence in the Campos Basin from Shell, ONGC, and Brava. The acquisition, valued at R$ 700 million and US$ 150 million, covers the area holding 0.86% of the shared pre-salt Jubarte reservoir. This transaction will increase Petrobras's interest in the Jubarte Shared Reservoir to 98.11% and is expected to simplify asset management and strengthen operations in the Campos Basin. The closing is subject to regulatory approvals from ANP and CADE.
Key Highlights
- PBR to acquire 100% of a portion of Argonauta Field ring-fence.
- Total consideration: R$ 700 million and $150 million.
- Payment in three installments: R$ 100M at closing, R$ 600M on Jan 15, 2027 or later, $150M two years after closing.
- Acquired portion holds 0.86% of Jubarte Shared Reservoir.
- Post-acquisition, PBR will hold 98.11% interest in Jubarte Shared Reservoir.
- Transaction subject to ANP and CADE approvals.