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Azevedo & Travassos Energia Announces Acquisition of Petro-Victory and Expands Portfolio with Assets in the Potiguar, Barreirinhas, and Espírito Santo Basins.
A Azevedo & Travassos Energia (ATE) announced on Thursday (3) the signing of a Binding Memorandum of Understanding for the acquisition of 100% of Petro-Victory Energy, an independent oil and gas operator.
The negotiation marks a strategic move by the company to expand its geographic footprint and strengthen its exploration and production portfolio in Brazil.
The majority of the acquired assets are located in the Potiguar Basin, in Rio Grande do Norte, a region where ATE already has operations.
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As a result, the company expects significant operational synergies and a substantial increase in its proven and probable reserves.
Acquisition of Petro-Victory Strengthens Azevedo & Travassos’ Presence in Rio Grande do Norte
With the acquisition of Petro-Victory, Azevedo & Travassos now controls reserves totaling more than 3.8 million barrels of oil equivalent, with 1.7 million barrels in reserves certified as proven. Additionally, Petro-Victory holds 34 additional exploratory blocks in the region.
This concentration of assets in the Potiguar Basin is expected to generate significant operational gains, further positioning ATE as one of the leading companies in the sector in northeastern Brazil.
Strategic Expansion Includes Basins in Maranhão and Espírito Santo
In addition to the Potiguar Basin, the acquisition includes assets in two other important sedimentary basins.
In Maranhão, Petro-Victory is a partner of Eneva in the São João field, focused on natural gas exploration, with plans for investment in 3D seismic technology and future drilling.
In Espírito Santo, the company is working with Blue Oil on the revitalization of the Lagoa Parda and Lagoa Parda Norte fields, as well as expanding production in the Batuíra and Águia Real fields, which currently produce about 400 barrels per day—with an expectation to double that volume in the short term.
Diversified Portfolio Reinforces Azevedo & Travassos’ Growth
According to Azevedo & Travassos Energia’s CEO, Ivan Carvalho, the operation aligns with the company’s expansion strategy.
“The operation represents an important step in the Company’s growth strategy, with the incorporation of a robust and diversified portfolio of production and exploration assets, which will significantly enhance our presence in the Brazilian oil and gas sector,” he stated in an official announcement.
With the acquisition, ATE will gain control over four producing fields (Andorinha, Alto Alegre, Trapiá, and São João), ownership in 12 fields acquired from Brava Energia, and involvement in natural gas projects with estimated resources of 1.4 billion cubic meters.
The new move by Azevedo & Travassos reinforces its position as one of the fastest-growing companies in the national energy sector.
The acquisition of Petro-Victory not only expands its geographic reach but also diversifies its revenue sources, focusing on mature and promising fields, as well as non-associated gas assets.
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