How much did Petrobras pay for the offshore fields?

Petrobras paid $450 million to purchase Petronas' 50% stake in the two offshore fields.

Where are the Tartaruga Verde and Espadarte fields located?

These offshore fields are situated in Brazil's Campos Basin.

Home / Business and Economy / Petrobras Buys Out Petronas in Key Brazil Offshore Fields

Petrobras Buys Out Petronas in Key Brazil Offshore Fields

Q: What fields did Petrobras acquire from Petronas?

Petrobras acquired the Tartaruga Verde field and Module III of the Espadarte field from Petronas.

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.

Petrobras Buys Out Petronas in Key Brazil Offshore Fields

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.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.