Brava, a Brazilian company, buys Petronas stakes in offshore fields worth $450 million

The Brazilian oil company Brava 'Energia announced Friday that it had acquired the Petronas stakes in Malaysia. In two offshore fields, the company has invested $450 million. This is part of a new strategy outlined by its incoming CEO.

Brava has purchased Petronas 50% stakes at the Tartaruga Verde and Module III fields in Brazil's Campos Basin.

Richard Kovacs said that the 'deal' marked the start of Brava’s?long-term plan and was in line with the ongoing Brava portfolio review.

Kovacs was named as the new CEO of Brava on Monday. He replaces Decio Oddone.

Brava noted that the Module III and Tartaruga Verde fields produced an average of 55.600 barrels per day of oil equivalent (boed).

Brava stated that the production figures are for all fields. Petrobras, the Brazilian state oil company, owns the remainder of the assets. (Reporting and writing by Marta Nogueira, Editing by Gabriel Araujo; Written by Andre Romani)

(source: Reuters)