Petrobras, following up on the announcement released on March 16, 2026, informs that it has signed contracts with Petronas Petróleo Brasil Ltda for the acquisition of 50% stakes in the Tartaruga Verde and Espadarte – Module III fields, located in the Campos Basin. After the completion of the transaction, Petrobras will once again hold 100% ownership of the assets, remaining as operator.
The transaction value is US$450 million, comprised of (a) US$50 million paid today ( signing ); (b) US$350 million upon closing, subject to adjustments related to the effective date of the transaction (July 1, 2025); and (c) two deferred installments of up to US$25 million each, to be paid 12 and 24 months after closing, respectively. The amounts to be disbursed by Petrobras will be adjusted for discounts related to the economic results obtained by the asset since July 1, 2025.
The completion of the transaction is subject to the fulfillment of precedent conditions stipulated in the purchase and sale agreement, including approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP).
About the fields
The Tartaruga Verde field and Espadarte Module III are located in the southern portion of the Campos Basin, in water depths between approximately 700 and 1,620 meters. The assets are operated by Petrobras through the FPSO Cidade de Campos dos Goytacazes, with current production of approximately 55,000 barrels of oil per day.
Source: Petrobras
