Brazilian independent oil producers such as PRIO SA, 3R Petroleum Oleo e Gas SA, Enauta Participacoes SA, and PetroReconcavo SA are seeking growth through mergers and acquisitions (M&A) following Petroleo Brasileiro SA’s (Petrobras) shift from divesting oil fields. Active discussions and explorations for potential deals are underway, with a notable interest from Norwegian producer Equinor ASA to potentially sell its Peregrino offshore field stake, and sales advisor Goldman Sachs Group Inc. has been hired by Seacrest Petroleo Bermuda Ltd., which looks to divest its Brazilian onshore fields. Petrobras, once entangled in financial difficulties and scandals, had initiated the shedding of some assets, now reviews its strategy under President Luiz Inacio Lula da Silva, leading juniors to leverage acquisitions for growth. The consolidatory activity underscores efforts to boost Brazil’s position as a top-five global oil and gas producer this decade.

Oil & Gas, Investment Banking & Brokerage Services,Brazil, Bermuda

https://mergersacquisitions.einnews.com/article/709673261/xApusiQEWcBzUrwd?ref=rss&ecode=Q1vNcweEggLWKz7L