Petrobras acquires 50% stake in Equinor-operated Itaimbezinho exploration block offshore Brazil

Type: Partnership · Technology: Oil Gas · Country: Brazil · Announced: 2026-06-10

Petrobras agreed to acquire a 50% interest in the Itaimbezinho exploration block located in the Campos Basin offshore Brazil from Equinor, which currently holds a 100% stake. Upon completion, the consortium will be led by Equinor as operator with a 50% interest, while Petrobras will hold the remaining 50% stake. Pré-Sal Petróleo S.A. (PPSA) will manage the production sharing contract. The transaction aligns with Petrobras' long-term strategy to replenish oil and gas reserves through exploration of new frontier areas and strategic partnerships. This deal strengthens Petrobras' position in the Campos Basin, where it is already involved in neighboring assets such as the Raia project and the Jaspe exploration license. The agreement remains subject to approval by Brazil's Administrative Council for Economic Defense (CADE) and the National Agency of Petroleum, Natural Gas and Biofuels (ANP), as well as other customary regulatory conditions.

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