Demarest assists Petrom in Petrobras stake acquisition for USD1.5m

Demarest assisted Petrom Produção de Petróleo & Gás Ltda, an entity of Ecom Group, in the acquisition of 50% of Petróleo Brasileiro S.A. – Petrobras in the onshore Rabo Branco field

Petrobras sold 50% of its stake in the onshore Rabo Branco field, located in the Sergipe-Alagoas Basin, for $1.5 million to Petrom.

The Rabo Branco field is part of the BT-SEAL-13 concession, located in the south of the Carmópolis Field, in Sergipe. The average production in 2020 was 131 barrels of oil per day. Petrom, which holds the other 50%, is the operator of the field, exercised its preference right, as provided in the contract, and now owns 100% of Rabo Branco.

Partner Joao Luis de Almeida (pictured) led the work at Demarest together with the team formed by lawyers Beatriz Neiva, Bruno Drago, Luis Eduardo Ribeiro, Marco Antonio Fonseca, Matheus Fontes Wahrsager, Otavio Cividanes, Roberta Souza Batalha.