25 July 2019

Trident Energy signs agreement with Petrobas to acquire the Pampo & Enchova clusters

Trident Energy is very pleased to announce that it has signed with Petrobras the agreements to acquire the Pampo & Enchova clusters.

Following closing of the transaction which is expected to happen during the first half of 2020, Trident Energy will be the owner and operator of the Pampo and Enchova clusters in the shallow and deep water of the Campos Basin, offshore Brazil, in the State of Rio.

Initially developed by Petrobras in the 80’s the 10 concessions (Enchova, Enchova Oeste, Marimbá, Piraúna, Bicudo, Bonito, Pampo, Trilha, Linguado and Badejo) still produce in excess of 25kBOPD from 4 platforms and the associated subsea developments. During the evaluation phase, we identified a large number of attractive projects to increase the production and extend the life of these fields.

The is a major step forward for Trident which after the successful takeover of Ceiba Okume in EG in 2017 is adding another world class asset to its portfolio. This acquisition is giving Trident the scale and the exposure to a new country and a new continent with many other exciting opportunities.

Trident Energy is very proud to have put in place a first of its kind RBL financing for this acquisition in Brazil, coming alongside the strong financial support of Warburg Pincus and our other investors. This great outcome is the achievement of the entire Trident team!