Cade approves negotiation between Petro Rio and Petrobras

The operation between Petro Rio S.A and Petrobras was approved administrative council of economic defense (Cade) this week. The operation deals with the acquisition of Petrobras' entire stake in campo de Frade, and the entire stake held by the seller in Friar B.V., in addition to the rights of Floating Production Storage and Offloading (FPSO Frade). The order for approval was published in the Official Gazette (DOU) of the last Thursday (19).

According to Cade, the operation addresses the acquisition by Petro through its subsidiaries PetroRio Jaguar and PetroRio Lux, respectively, the total participation of 30% held by Petrobras in the Campo de Frade, located in the Campos basin in Rio de Janeiro, and the the entire stake held by the seller, through its subsidiary Petrobras Friar Inversiones S.A., equivalent to 30%, in Friar B.V. In addition, in the rights frade FPSO and submerged equipment used in the operation of the Camp of Friar.

Thus, Petro Rio, which already has 70% of the stake in the field, will fully hold the rights of exploitation, development of oil and gas production in the Frade Field.


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