Brava Energia Concludes Stake Buy in Three Campos Basin Fields from QatarEnergy
December 31, 2024
Brazilian oil and gas firm Brava Energia has concluded the acquisition of the 23% stake held by QatarEnergy Brasil in the Abalone, Ostra and Argonauta oil fields, which form the Parque das Conchas in the Campos Basin.
The transaction value, disregarding adjustments, is $150 million.
Parque das Conchas is operated by Shell, which holds a 50% stake, and ONGC is a partner in the asset with the remaining 27%.
The concession contracts are valid until 2032, with the possibility of extension.
In the period between January and November 2024, the average production was approximately 27 thousand barrels of oil equivalent per day, with 6.2 thousand boe/day corresponding to the stake acquired by Brava.
It is worth noting that the oil produced at Parque das Conchas has similar characteristics to the other oils in the assets of the Brava Energia’s offshore portfolio, which may represent possible logistical and commercial synergies.
