Brazil’s Petroreconcavo has signed a purchase and sale agreement with 3R Potiguar, a subsidiary of Brava Energia, to acquire a 50% stake in natural gas midstream infrastructure in Brazil’s Rio Grande do Norte state, the company said, OE reported.
The assets include two gas processing units – NGPU III, currently in operation, and the hibernated NGPU II – each with a processing capacity of 1.5mn cubic metres per day.
The deal also covers LPG storage facilities at the Guamaré Industrial Asset and a gas pipeline connecting Brava’s production fields to the site.
The transaction, valued at $65mn, will be paid in stages: 10% on signing, 25% following CADE approval, 50% at closing upon fulfilment of agreed conditions and 15% upon completion of real estate transfers. Petroreconcavo is evaluating financing options that could cover the full amount.
A joint operating agreement will take effect at closing. An operations committee will be formed, with Brava as operator, to oversee budget, cost and efficiency targets. Shared services from Guamaré will support operations.
The companies have also agreed a long-term gas sales contract. Brava will purchase 75,000 cubic metres per day starting July 1, increasing to 150,000 from 2026 to 2030, before reverting to 75,000 in early 2031.
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