Petro Rio to Buy TotalEnergies' Stake in Itaipu Field

Credit: Petro Rio
Credit: Petro Rio

Brazilian oil company Petro Rio has signed a deal with TotalEnergies for the acquisition of a 40% interest in the BM-C-32 Block (“Itaipu Field” or “Itaipu”).

Together with the 60% interest in Itaipu acquired from BP in July 2021, this transaction will bring Petro Rio's interest to 100% of the concession after the acquisition is concluded, subject to conditions precedent.

The amount to be paid is US$ 75.000 (seventy-five thousand dollars) upon the closing of the acquisition, and another US$ 26,925,000 (twenty-six million, nine hundred and twenty-five thousand dollars) will be paid after Itaipu's destination is defined.

Itaipu was discovered in 2009 in the BM-C-32 block, in the pre-salt of the Campos basin, where three wells were drilled to evaluate the reservoir and a formation test was performed in the discovery well, which revealed good productivity and light oil of 31º API. 

The block is adjacent to the Parque das Baleias cluster and near the Wahoo Field, in deep waters (1,300m) and 120km off the Espírito Santo coast. Preliminary studies performed by Petro Rio indicate that the accumulation is potentially shared with the southeastern region of the adjacent cluster.

Current News

ExxonMobil Takes Ownership of FPSO Prosperity

ExxonMobil Takes Ownership of

Key Strategies to Strengthen Maritime Cyber Security

Key Strategies to Strengthen M

Angola Outlines Plans for Multi-Year Oil and Gas License Rounds from 2026

Angola Outlines Plans for Mult

Beating the Heat: R.W. Fernstrum & Company Turns 75

Beating the Heat: R.W. Fernstr

Subscribe for OE Digital E‑News

Offshore Engineer Magazine