Petrobras to Acquire 50% of Itaimbezinho Block in Campos Basin
PBRA•Petrobras agreed to acquire a 50% stake in the Itaimbezinho block in Brazil’s Campos Basin from Equinor Brasil Energia, subject to CADE and ANP approvals. The deal aligns with Petrobras’ 2026–2030 plan to boost exploration, leverage synergies with Equinor and offset declines in mature fields.
1. Deal Overview
Petrobras will acquire a 50% stake in the Itaimbezinho exploration block in Brazil’s Campos Basin from Equinor Brasil Energia. The transaction remains subject to approval by CADE and the National Agency of Petroleum, Natural Gas and Biofuels and other customary closing conditions.
2. Strategic Rationale
The acquisition supports Petrobras’ 2026–2030 business plan by expanding exploration acreage to counter declining output from mature fields. It underscores reserve replacement as a priority and targets long-term production growth in one of Brazil’s key offshore basins.
3. Partnership Synergies
The deal deepens Petrobras’ collaboration with Equinor, adding to existing projects like Raia gas development and the Jaspe license. Shared operational responsibilities are expected to optimize capital allocation, reduce exploration risks and leverage technical expertise across adjacent assets.
