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The process shows the growth of Azevedo & Travassos in the oil market, in addition to strengthening relations with Brava Energia.
Azevedo & Travassos, one of the main Brazilian companies in the sector oil and gas, announced the expansion of its oil asset portfolio with the acquisition of 13 onshore production fields from Brava Energia.
The transaction, valued at US$ 15 million, includes fields located in the Potiguar Basin, more specifically in the Porto Carão and Barrinha hubs.
The agreement is still subject to approval by the National Petroleum Agency (ANP). Despite this, it already represents a strategic advance for the company, consolidating its presence in one of the largest oil producing regions in Brazil.
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Strategic expansion in the oil sector
The total value of the transaction is US$15 million, with an initial payment of US$600 upon signing of the contract.
The remaining amount will be paid in installments: US$2,9 million upon closing of the deal, US$8 million in two installments over the next two years and US$3,5 million over up to eight years, based on the production of the acquired fields.
The payment structure was designed to ensure flexibility for both Azevedo & Travassos and Brava Energia.
The Porto Carão Hub, located near the municipality of Guamaré, has four producing fields: Porto Carão, Serraria, Lagoa Aroeira and Carcará.
The Barrinha Hub, located near Mossoró, has seven concession contracts, with nine production fields. Among them are Pintassilgo, Barrinha, Barrinha Leste and Fazenda Canaan, among others.
These fields combined have about 125 million barrels of oil in place. Average production is 253 barrels of oil equivalent per day (boe/d) in 2024.
Azevedo & Travassos reinforces its consolidation strategy in the market
The acquisition of these assets positions Azevedo & Travassos as an even more relevant player in the oil market, especially in the Potiguar Basin.
In its statement, the company highlighted that the transaction will allow the company to consolidate its position in a well-known and promising production zone.
The geology of the region is already widely explored and offers great prospects for increased production and continued operations in the near future.
Bernardo de Araújo, Investor Relations Director at Azevedo & Travassos, said: “The transaction with Brava significantly expands ATP’s [Azevedo & Travassos Petróleo] position in the Potiguar Basin, a producing zone with known and highly promising geology, in which the Company pioneered more than 40 years ago. This position will reinforce ATP’s platform as a relevant player in the expansion and consolidation scenario of independent producers in Brazil.”
The acquisition also brings new responsibilities for Azevedo & Travassos, including the obligation to undertake the process of abandoning the acquired fields, an estimated cost of approximately US$ 21 million.
The company will be responsible for all technical procedures necessary to close down activities in the fields when this production cycle is completed.
Partnership with Brava Energia and the Brazilian oil market
With the oil sales contract during the transition phase between the two companies, Azevedo & Travassos will strengthen its relationship with Brava Energia.
All oil produced during this period will be sold to the Brava refinery, and the value generated will be deducted from the final transaction.
This partnership further strengthens the strategic collaboration between the companies and facilitates the operations transition process, with mutual benefits for both parties.
The Potiguar Basin, one of the main oil producing regions in Brazil, continues to be a focus of investment for companies in the sector.
The potential of new fields and the continuity of production in existing ones are elements that attract major market players, both large corporations and independent companies.
With information PetroNotícias.
