Petrobras and Murphy Oil join forces on Gulf of Mexico operations

Petrobras and Murphy Oil join forces on Gulf of Mexico operations

M&A Energy Brazil

Brazil's state-run energy company Petrobras has entered into a joint venture (JV) with US-headquartered Murphy Exploration & Production to develop oil and gas assets in the Gulf of Mexico. Petrobras, through subsidiary Petrobras Americas, will receive up to $900m in cash as part of the JV and as much as $150m in contingent payments that will be made until 2025. Both companies will contribute their current oil and gas producing assets in the Gulf of Mexico toward the JV, which will be 80% own

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