Brazilian duo reaches $65M deal on sharing gas processing assets

Brazilian oil and gas company Petroreconcavo has closed a $65 million deal with 3R Potiguar, a subsidiary of Brava Energia, for the sharing of gas processing assets in the State of Rio Grande do Norte, Brazil. As part of the agreement, PetroReconcavo will acquire a 50% stake in two natural gas processing units and LPG spheres, along with a gas pipeline. The transaction will be completed in installments, with Petroreconcavo considering new financing options to cover the deal. An operations committee will be established to oversee the assets, with Brava as the consortium operator. The deal also includes a long-term commitment for Brava to purchase natural gas from PetroReconcavo. This agreement follows a previous partnership agreement between the two Brazilian companies.