Home / Business and Economy / Petrobras Buys Out Petronas in Key Brazil Offshore Fields
Petrobras Buys Out Petronas in Key Brazil Offshore Fields
17 Mar
Summary
- Petrobras is acquiring Petronas' 50% stake for $450 million.
- The deal grants Petrobras full ownership of Tartaruga Verde and Espadarte Module III.
- These offshore fields are located in Brazil's significant Campos Basin.
State-run Petrobras has exercised its right to purchase a 50% stake in two Brazilian offshore fields from Malaysian company Petronas for $450 million. This strategic move, announced on Monday, March 16, 2026, will result in Petrobras holding complete 100% ownership of both the Tartaruga Verde field and Module III of the Espadarte field.
These valuable offshore assets are located within Brazil's prolific Campos Basin. The acquisition signifies Petrobras' commitment to consolidating its control over key domestic energy resources. It is noteworthy that in January, Brazilian oil company Brava had announced a separate deal to acquire these stakes from Petronas, underscoring the competitive interest in these offshore operations.
