PetroRio’s $2.2 Billion Acquisition of Petrobras Interest in Albacora Leste

Tauil & Chequer Advogados (Mayer Brown) advised PetroRio on the transaction.
Machado Meyer advised Petrobras

Petrobras executed the sale of its operating stake at the Albacora Leste field in the Campos basin to  PetroRio for $2.2 billion.  Per the terms of the transaction, PetroRio will pay $292.7 million on the contract execution date, another $1.66 billion at the closing of the deal and up to $250 million in contingent payments depending on future Brent crude prices.

Petrobras is a Brazil-based integrated energy company controlled by the Brazilian government. The company focuses on exploration and production for oil and gas in Brazilian offshore fields.

PetroRio SA is an oil and gas company. It provides investment and recovery of oil production assets. The company carries out the development of solid growth platforms aiming to generate value for its shareholders by increasing its production through the acquisition of production assets.

Tauil & Chequer Advogados (Mayer Brown) advised PetroRio on the transaction with a team including Alexandre Chequer (Picture), Bruno Belchior, Luiz Gustavo Escorcio Bezerra, Leandro Duarte Alves, Gedham Medeiros Gomes, Larianne Pinto Sampaio and Bárbara Eiroa Leite.

Machado Meyer advised Petrobras with a team including Fernando Xavier, Daniel Szyfman, Anna Carolina Ramos Coelho Joppert and Mariele Cantidio Milhorance.

Involved fees earner: Mariele Milhorance – Machado Meyer Advogados; Anna Joppert – Machado Meyer Advogados; Daniel Szyfman – Machado Meyer Advogados; Fernando Xavier – Machado Meyer Advogados; Alexandre Chequer – Mayer Brown; Leandro Duarte – Mayer Brown; Bárbara Eiroa Leite – Mayer Brown; Luiz Gustavo Escorcio Bezerra – Mayer Brown; Gedham Medeiros Gomes – Mayer Brown; Larianne Pinto Sampaio – Mayer Brown; Bruno Triani Belchior – Mayer Brown;

Law Firms: Machado Meyer Advogados; Mayer Brown;

Clients: Petrobras; PetroRio SA;

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Author: Ambrogio Visconti