Malaysia’s Petronas buys 50% equity in Brazil deepwater assets from Petrobras
Singapore — Malaysia’s Petronas said Friday it bought a 50% equity stake in deepwater concessions in the Campos Basin in offshore Brazil from Petroleo Brasileiro S.A. or Petrobras.
The deal represents Petronas’ efforts to boost its upstream reserves and production, growing cash flows and shrinking domestic output. A price was not disclosed.
By Eric Yep via S&P Global Platts