PetroRio buys stakes in BP oil fields

PetroRio buys stakes in BP oil fields

M&A Energy Brazil Europe

Brazilian oil and gas company PetroRio said Thursday that it agreed to pay $100 million to buy stakes in two offshore oil fields from the local subsidiary of British energy company BP. PetroRio has acquired 60% of the Wahoo field and 35.7% of the Itaipu fieldin the Campos Basin off the coast of Rio de Janeiro. PetroRio will become the operator of both pre-salt fields, it said in a securities filing. The Rio de Janeiro-based company will divide the acquisition into five payments with $15 million

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