Petrobras to Sell Onshore Cricaré Cluster to Karavan Oil, Seacrest Capital

Updated 1 year ago

Petrobras has agreed to sell all of its interests in 27 onshore fields in the Cricaré cluster in Espírito Santo to a special purpose entity of Karavan Oil (51%) and Seacrest Capital (49%). The sale amount is $155 million with $11 million paid up front, $26 million at closing, and $118 million in contingent payments subject to conditions and regulatory approvals.