(Bloomberg) – PRIO SA, Brava Energia and BW Power Ltd are contemplating shopping for Petroliam Nasional Berhad’s stake within the Brazilian oil area Tartaruga Verde to develop in Latin America’s largest producing nation, in line with individuals conversant in the matter.
The three firms are amongst people who have signed non-disclosure agreements as they weigh a potential bid, the individuals mentioned, asking to not be recognized discussing private info. The discussions are at an early stage and a deal could not occur, the individuals mentioned.
Petronas final month introduced curiosity in promoting its 50% stake within the area. The Kuala Lumpur-based firm was seeking to get about $1 billion for the stake, individuals acquainted mentioned on the time.
See additionally: Petronas searching for $1 billion for Brazil oil area stake sale, sources say
Brava Energia is all the time alternatives within the areas the place it operates, however doesn’t touch upon potential offers and acquisitions, it mentioned in a response to questions.
PRIO declined to remark. BW Power didn’t instantly reply to a request for feedback. Petronas didn’t instantly reply to a message after enterprise hours in Kuala Lumpur.
The three potential consumers have expertise working Brazilian offshore tasks that they acquired from sellers together with Petrobras, which nonetheless operates Tartaruga Verde with a 50% stake. The sphere produced about 35,000 barrels a day of oil in July, in line with Brazil’s oil regulator ANP, which might assist the smaller producers develop output.
Petronas purchased the stake within the Tartaruga Verde oil area in 2019 as a part of an even bigger transaction with Petroleo Brasileiro SA, often known as Petrobras. The sphere is in deep waters of the Campos basin in Rio de Janeiro state.
