3R Petroleum approves partnership with DBO to seek acquisitions of offshore assets

(Reuters) 3R Petroleum Oil and Gas reported that its board approved the formalization of a partnership with DBO under which the companies agree to jointly capitalize 3R Petroleum Offshore, new name of OP Energia, and to join efforts to seek acquisition opportunities.

The company will seek, through the partnership, to expand its operations in offshore projects, evaluating possible opportunistic purchases of assets in the development or production phase, without exploratory bias, that offer high potential for revitalization and increased production and reserves, said 3R in relevant fact this Tuesday.

“By means of this agreement, 3R Offshore will, after fulfilling the preceding conditions, become the holder of 100% of the concession rights related to the Peroá Cluster, which includes the Peroá, Cangoá and Malombe fields, in the Espírito Santo Basin” , added the company in the statement.

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