Brazilian oil company Petroreconcavo expects to invest more than BRL 1 billion in 2023, as it develops assets in the states of Bahia and Rio Grande do Norte, as well as forecasts the conclusion of the purchase of a new asset from Petrobras shortly. The company currently runs 58 fields in both states, where it is investing to recover. The Northeast countryside, where it operates, benefits directly from the contributions made by the company. After buying onshore assets from the state-run oil giant Petrobras in recent years, where it has already seen benefits from increased production, Petroreconcavo and its partner Eneva are in the final stages of negotiations with Petrobras to buy Polo Bahia Terra.
Sources: Reuters/Noticias Agrícolas (*Translated by Ia Niani)