Chevron sells its first Brazilian deepwater field to PetroRioPetroRio SA struck a deal to acquire Chevron’s operated 51.74% WI in Frade field
within the Campos Basin, taking its stake to 70% and making it the largest independent
oil and gas company in Brazil. For Chevron, the deal marks the US-based supermajor’s
exit from its first deepwater asset in the Latin American country after more
than two decades. As part of
the deal, PetroRio will also
acquire Chevron’s operated 50% WI
in the deepwater CE-M715 block in the Ceara Basin, which Chevron acquired in...