Carmo Energy, a subsidiary of Cobra IS, has acquired Polo Carmópolis from the Brazilian Petrobras group for $1.1 billion.
Polo Carmópolis holds the interests in 11 onshore oil and natural gas field concessions, as well as related infrastructure, such as processing, storage and transport, located in the state of Sergipe in Brazil. In November, the average daily production of Polo Carmópolis was 4,500 barrels of oil and 22,000 cubic meters of natural gas.
Following the transaction, Carmo Energy will be in charge of the maintenance of these facilities and of the work to upgrade them to technical and environmental standards.
Cobra IS said $823 million was paid in 2022, with the balance of $275 million to be paid to Petrobras within 12 months.
