PetroRio buys FPSO, oil field in Brazil

PetroRio buys FPSO, oil field in Brazil

M&A Equity Energy Gas Brazil

Brazilian oil and gas company PetroRio said it has agreed to buy the OSX-3 floating, production, storage and offload (FPSO) vessel for $140 million and also acquire 80% of the Tubarão Martelo oil field from Dommo Energia.  The Tubarão Martelo field abuts the Polvo field, which is operated by PetroRio, to form a private oil field cluster in the Campos Basin, PetroRio said in a statement. Tubarão Martelo and Polvo each have roughly $100 million in annual operating costs, but combining the two fiel

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