KUALA LUMPUR, Dec 30 (Bernama) — PETRONAS’ subsidiary, PETRONAS Petróleo Brasil Ltda. (PPBL) on December 28, 2019 has announced the completion of the transaction for the acquisition of 50 per cent equity in the Tartaruga Verde producing field (BM-C-36 Concession) and Module III of the Espadarte field (Espadarte Concession), both located in deep waters of the Campos Basin, offshore Brazil.
PPBL signed a Sales and Purchase Agreement (SPA) with Petróleo Brasileiro S.A. (Petrobras), Brazil’s petroleum multinational corporation on 25 April 2019. Petrobras, who is the Operator, holds the remaining 50 per cent equity.
