3R Petroleum to acquire Fazenda Belem cluster assets from Petrobras

SPE Fazenda Belém SA, a subsidiary of 3R Petroleum e Participações SA, signed a contract to purchase Petrobras’s entire interest in onshore fields Fazenda Belém and Icapuí (Fazenda Belém cluster), in the Potiguar basin, in the state of Ceará, Brazil.

The $35.2-million contract comprises $8.8 million paid on contract signature date; $16.4 million to be paid at closing; and $10 million to be paid 12 months after closing. The amounts do not consider the adjustments due and are subject to compliance with previous conditions, such as approval by the National Agency of Petroleum, Natural Gas and Biofuels (ANP), Petrobras said Aug. 17.

Petrobras currently holds 100% of the Fazenda Belém cluster, which produced an average 800 b/d of oil from January to April 2020.