July 13, 2021 |
Brazilian oil and gas company 3R Petroleum said Monday that it agreed to buy 62.5% of the Papa-Terra oil field from state-owned oil company Petrobras for $106 million.
"The acquisition... marks the beginning of [3R's] deep-water operations as well as strengthens the construction of a diversified portfolio with mature onshore and offshore assets," the Rio de Janeiro-based company said in a securities filing.
3R said it had paid $6 million upon signing the contract and pledged to pay $9.6 million
Brazilian oil and gas company agrees to pay $106 mln for 62.5% of Papa-Terra