3R Petroleum Oil And Gas Council Approves Partnership With DBO And Foresees Offshore Oil Exploration Asset Acquisitions

Written by Fabio Lucas Carvalho

Published on 11/05/2021 at 18:45

Foto: Opog

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3R Petroleum Oil and Gas and DBO Have Partnership Approved by the Board and Agreement Provides for Investments in Offshore Oil Exploration Assets

3R Petroleum Oil and Gas informed the press that the board approved the partnership with DBO Energia. The agreement between the companies will make them jointly capitalize 3R Petroleum Offshore, the name of the OP Energy. The partnership has already generated US$ 55 million for Petrobras.

The company’s idea is to increase its share of the offshore oil exploration market through strategic acquisitions. Assets that are still in the development or production phase may be acquired by 3R Petroleum Oil and Gas.

Petrobras Sold the Peroá Pole for a Fortune

DBO and 3R Petroleum Oil and Gas have already made a significant acquisition earlier this year: the Peroá Pole in the Espírito Santo basin. Petrobras closed the sale for around US$ 55 million. The next investment is expected to be the Papa-Terra field in the waters of the Campos Basin. 3R’s offer was seen as the best by Petrobras, but the finalization of the deal has yet to be announced.

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“Through this agreement, 3R Offshore will, after the fulfillment of precedential conditions, hold 100% of the concession rights related to the Peroá Pole, which includes the fields of Peroá, Cangoá, and Malombe in the Espírito Santo Basin,” the company stated in a press release.

3R Petroleum Oil and Gas Seeks to Expand Its Production Capacity

In an article published in Estadão, the company highlighted that it may acquire smaller companies in the oil sector. The company aims to take advantage of Petrobras’ privatization program to further increase its assets in the market.

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“Of course, since Petrobras held the monopoly for a long time, it offers more opportunities. But there are other companies that have set up in Brazil, starting in the exploratory phase and moving to production. Some of them are now smaller players. We are evaluating the possibility of acquiring companies of this type or their fields,” said Rodrigo Pizarro, CFO of 3R Petroleum Oil and Gas.

3R Petroleum Oil And Gas Council Approves Partnership With DBO And Foresees Offshore Oil Exploration Asset Acquisitions

3R Petroleum Oil and Gas and DBO Have Partnership Approved by the Board and Agreement Provides for Investments in Offshore Oil Exploration Assets

Petrobras Sold the Peroá Pole for a Fortune

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

3R Petroleum Oil and Gas Seeks to Expand Its Production Capacity

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3R Petroleum Oil And Gas Council Approves Partnership With DBO And Foresees Offshore Oil Exploration Asset Acquisitions

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