Petrobras acquires 50% of Itaimbezinho, in the Campos Basin pre-salt

Facade of the Petrobras building, in the center of Rio
Adriano Ishibashi/Framephoto/Estadão Conteúdo
Petrobras announced this Wednesday (10) that it acquired a 50% stake in the Itaimbezinho exploration block, located in the Campos Basin, on the Brazilian coast. The asset belonged entirely to Equinor Brasil Energia - which continues with half of the operation.
"The partnership maximizes synergies in the Campos Basin, a region where Petrobras is already developing neighboring assets, also in partnership with Equinor, such as the Raia project and the Jaspe exploration license", the company said in a note.
The state-owned company Pré-Sal Petróleo (PPSA) will be the manager of the sharing contract.
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The exploration block works as a kind of "lot" of area in the sea provided by the government for companies to investigate the existence of oil or gas.
Also according to Petrobras, the acquisition "is in line with the company's long-term strategy, aimed at rebuilding oil and gas reserves through the exploration of new frontiers and acting in partnership".
The process will still be submitted for approval by the Administrative Council for Economic Defense (Cade) and the National Agency for Petroleum, Natural Gas and Biofuels (ANP). Completion of the transaction still depends on applicable governmental and regulatory approvals.
*With information from Reuters news agency.

Source: G1