Petrobras, BTG Pactual form venture for E&P in Africa

Offshore staff

RIO DE JANEIRO – Petrobras and Banco BTG Pactual S.A. have agreed to establish a 50/50 joint venture for exploration and production in Africa. The joint venture will be formed when BTG Pactual purchases 50% of the shares issued by Petrobras Oil & Gas B.V. for $1.525 billion.

Once the restructuring is concluded, the operation will involve the branches in Angola, Benin, Gabon and Namibia, as well as the subsidiaries Brasoil Oil Services Co. (Nigeria) Ltd., Petroleo Brasileiro Nigeria Ltd., and Petrobras Tanzania Ltd.

6/24/2013

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...