Petrobras acquires 50% interest in Equinor’s Itaimbezinho block in Campos Basin

Petrobras entered into an agreement with Equinor Brasil Energia for the acquisition of a 50% interest in the Itaimbezinho exploration block in the offshore Campos Basin, Brazil.

Equinor currently holds a 100% interest in the block. On completion of the transaction, the consortium will be composed of Equinor as operator with 50%, Petrobras with 50% and Pré-Sal Petróleo as manager of the production sharing contract.

Petrobras cited synergies with neighboring assets it is developing in the Campos Basin alongside Equinor, including the Raia project and the Jaspe exploration license.

The assignment will be submitted to Brazil’s Administrative Council for Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP) for approval. Completion is subject to the fulfillment of regulatory conditions.