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PetroRio buys FPSO and farms in to Tubarao Martelo

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06 February 2020

PetroRio buys FPSO and farms in to Tubarao Martelo

Report summary

Brazilian independent PetroRio announced a US$140 million purchase agreement with another local player, Dommo Energia, to acquire an 80% operating stake in Tubarão Martelo, a shallow water field in the Campos Basin. The asset produces from the 100,000 bbl/d OSX-3 FPSO.PetroRio plans to redevelop its adjacent, wholly-owned Polvo development as a tieback to the acquired FPSO. The vessel currently operates at just 6% of its capacity. Co-development with PetroRio's Polvo field could boost reserves and unlock value through operational synergies and field life extension.

Table of contents

  • Executive summary
  • Transaction details
  • Deal analysis
  • Upsides and risks
  • Strategic rationale
  • Oil & gas pricing and assumptions

Tables and charts

This report includes 3 images and tables including:

  • Combined project production output
  • Oil & gas pricing and assumptions: Table 1
  • Oil & gas pricing and assumptions: Table 2

What's included

This report contains:

  • Document

    PetroRio buys FPSO and farms in to Tubarao Martelo

    PDF 731.54 KB

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