MergerLinks Header Logo

Announced

PRIO to acquire a 40% stake in Peregrino and Pitangola Fields from SPEP Energy and Sinochem for $1.91bn.

Synopsis

PRIO, a fuel and renewable energy services provider, agreed to acquire a 40% stake in Peregrino and Pitangola Fields from SPEP Energy and Sinochem, a Chinese state-owned multinational conglomerate, for $1.91bn. "After the acquisition's conclusion, the Company's production will increase by approximately 35 thousand barrels per day. Additionally, PRIO sees synergies in marketing the Field’s oil, as each offtake from Peregrino of approximately 650 thousand barrels can be combined with cargo loads from other fields operated by the Company to optimize logistics," PRIO.

Show Details & Financials

Did you work on this deal?

Showcase your expertise to over 3 million dealmakers and industry leaders on Datasite.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US