Aiming at future projects in the offshore oil and gas market, Maha Energy announces definitive agreement for the acquisition of the company DBO

Maha Energy signed a definitive agreement for the transfer of shares and acquisition of the company DBO. The purpose of the transaction is to expand the energy company's operations in the international offshore oil and gas market.

The multinational company Maha Energy has strong news for its future business portfolio. she announced the signing of a definitive agreement for the acquisition of DBO Energy and the merger of the operations of both companies. DBO is a strong player on the global scene in offshore oil and gas projects. The agreement between the two makes room for an even broader portfolio of operations in the international market.

Maha Energy enters into definitive agreement for the acquisition of DBO and merger of the companies with a focus on its expansion in the international offshore oil and gas market

Maha Energy has been investing in a market expansion plan focused on diversifying its service portfolio in recent months.

Now, it has announced a definitive agreement with DBO Energy for the acquisition of the company's shares and its operations in the global market.

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Thus, there will be a maximum issue of 36.775.410 new Maha shares, to be subscribed by DBO shareholders for consideration.

Also provided for in the signed agreement is the transfer of existing DBO shares to Maha by DBO shareholders.

Despite the definitive agreement, the conditions for the transfer of shares between the companies is still subject to discussions at the Extraordinary General Meeting in Maha. In this way, the companies expect the operation to be completed by the end of the first half of 2023.

Founded in 2017, DBO is a privately held upstream oil and gas company focused on mature offshore fields in Brazil. It has attracted North Sea investors to invest in Brazilian offshore oil and gas market assets intensively in recent years.

In addition, the oil and gas company owns a 15% stake in 3R Petroleum Offshore SA (“3R Offshore”), which operates in the production of offshore fields in Brazil through the Peroá cluster (100% operating stake operated) and the Papa Terra cluster (62,5% operating stake operated).

The transaction with Maha Energy for the acquisition of the company marks a strong investment in future operations in the offshore market.

DBO acquisition operation reinforces the company's investments in the diversification of its business portfolio in the offshore oil and gas market 

The signing of a definitive agreement for the acquisition of DBO Energy by the company Maha Energy reinforces the company's current position.

It has been seeking to diversify the portfolio of services offered in the market offshore oil and gas industry.

The business combination with DBO increases Maha's net 2P reserves by around 18,5 mmboe and is estimated to add approximately 2.000 boepd of net production in 2023.

The possibility of expanding production at Polo Papa Terra still offers Maha Energy an opportunity for even greater growth in the Brazilian oil market.

Polo Papa Terra is a heavy oil field located in deep waters in the Campos Basin, approximately 100 km off the coast of Rio de Janeiro.

Currently, it is one of the assets with the greatest potential for expansion in fuel production in the Campos Basin region.

Thus, the acquisition of DBO by Maha Energy makes room for strong investments in the offshore oil and gas market with a focus on this and the company's other assets.