BW Offshore has agreed to acquire a 70% stake in an oilfield off Brazil for $90m, the company confirmed on Friday.
The deal with Brazilian oil company Petrobras is subject to approval by The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The Singapore-based FPSO owner and operator said the acquisition price will be paid over three milestones with a tail-heavy final payment.
