Brazilian oil firm Brava Energia announced on Friday the acquisition of the stakes owned by Malaysia's Petronas in two offshore fields for $450 million, kicking off a new strategic plan outlined by the company's incoming chief executive.
Brava purchased Petronas' 50 per cent stakes in the Tartaruga Verde field and in the Module III of the Espadarte field, both located in Brazil's Campos Basin, it said in a statement.
"This deal marks the beginning of our long-term strategy and is aligned with Brava's ongoing portfolio review plan," Richard Kovacs, who will take the Chief Executive position next month, said.
Kovacs, who had been serving as Brava's chairman, was announced as the company's new CEO on Monday, effective February 1. He will replace Decio Oddone.
Tartaruga Verde and the Module III of the Espadarte field produced together an average of 55,600 barrels of oil equivalent per day (boed) last year, Brava said. It noted most of the output was oil.
The production numbers are for 100 per cent of the fields, Brava said. Brazilian state-run oil firm Petrobras owns the remaining stake in the assets.
(Reporting by Marta Nogueira; Writing by Andre Romani; Editing by Gabriel Araujo)