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Petrobras is advancing its plans to strengthen its portfolio of profitable deepwater assets. Through a high-level strategic move, the company signed a definitive agreement to acquire the entire stake held by Shell , ONGC , and Brava in a section of the Argonauta field. This transaction represents the acquisition of control over 0.86% of the shared Jubarte field, a critical area for national production.
The offshore transaction in the Argonaut field
Under the terms of the contract, the total disbursement has been set at 700 million reais and 150 million dollars. The payment schedule has been structured in stages, beginning with an immediate disbursement upon closing of the transaction, followed by installments scheduled for early 2027.
Likewise, the execution of this agreement will allow the oil company to achieve a dominant stake of 98.11% in the Jubarte deposit , leaving the remaining percentage under the control of the union through PPSA.
The move aims to simplify the governance of assets located in the northern Campos Basin area. Currently, the area operates under an integrated infrastructure that includes large vessels such as the P-57 and the FPSO Maria Quitéria .
With a production of around 210,000 barrels per day, the integration of Argonauta under the sole management of Petrobras will streamline technical and financial decisions. The completion of the process now depends on approvals from the ANP and CADE , the bodies that must ratify this expansion in Brazil’s energy hub .
Source and photo: Petrobras