BW Energy Inks Deals in Brazil’s Espírito Santo Basin for $148 Million

BW Energy will acquire a 100% working interest in Petrobras' Golfinho and Camarupium clusters interests, as well as Saipem's FPSO Cidade de Vitoria in the Golfinho field offshore Brazil.

Pietro Donatello Pitts, Hart Energy
Golfinho and Camarupim clusters, BW Energy, Petrobras

Norwegian operator BW Energy signed two deals to acquire Petrobras' working interests in Golfinho and Camarupim and Saipem's working interest in FPSO Cidade de Vitoria producing in the Golfinho field. (Source: Petrobras petroleum platform by Gilberto Mesquita / Shutterstock.com)

Oslo-based BW Energy inked two deals for a combined $148 million related to the acquisition of state-owned Petrobras’ working interest in the Golfinho and Camarupim clusters offshore Brazil in the Espírito Santo Basin and the BM-ES-23 block as well as Saipem’s interest in the FPSO Cidade de Vitoria producing in the Golfinho field.

The transactions are “subject to fulfillment or waiver of conditions precedent with an expected closing and effective date in the first quarter of 2023,” BW Energy said June 23 in statements on its website. BW Energy plans to finance the deals with cash flow and existing liquidity.

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