MTI Energy completed the acquisition of 37.5% stake in Papa-Terra oil field from Chevron.

MTI Energy, an oil and gas operating company, completed the acquisition of 37.5% stake in Papa-Terra oil field from Chevron, an American multinational energy corporation. Financial terms were not disclosed. “Chevron remains committed to increasing its presence in Brazil through the 11 pre-salt blocks acquired in the 2018 and 2019 bidding rounds in the Campos and Santos basins. Brazil's world class pre-salt resources continue to play an important role in the company's global exploration and production strategy.”