Demarest Advogados assists 3R Petroleum in acquisition of Polo Potiguar 

Demarest Advogados assisted 3R Petroleum in the signing of the purchase of Cluster Potiguar for US$ 1,38 billion

Demarest Advogados assisted 3R Petroleum in the negotiation of the Purchase and Sale Agreement (SPA) and other relevant and related agreements signed with Petrobras for the acquisition of Cluster Potiguar.

Cluster Potiguar is one of the main assets included in Petrobras’ divestment process, including 22 onshore and shallow water production field concessions.

The assets transferred also include a UPGN (gas processing plant), which will allow 3R Petroleum to process the natural gas produced by its own field and by other producers in the region, as well as a major Terminal and the Clara Camarão Refinery.

As a consequence of this transaction and based on the importance of the assets it includes (not only for 3R, but also for the Brazilian market), 3R Petroleum will substantially increase its production and hydrocarbons reserves, changing its position in the O&G market to one of the major operators of Latin America.

The value of the transaction was USD 1,385,000,000.

Demarest Advogados had partner Barbara Bittencourt (pictured) and associates Brenda Araujo, João Aranha and Livia Borges Leal.

3R Petroleum also had in-house counsel: Taciana Furlan (Head of Legal), Caroline Melo (Legal) and Matheus Dias (Commercial and Business Development Director).

Machado Meyer Advogados advised Petrobrás and relied on partners Daniel Szyfman and Fernando Xavier; lawyers Raphael Barboza Correia and Mariele Cantidio Milhorance.