On 28 November 2018 Petrobras announced a final agreement with French operator Perenco for US$ 370 million to divest three oil fields in the Polo Nordeste package on the Campos Basin shelf. The three oil fields Pargo, Carapeba and Vermelho began production in 1988 and are Round Zero concessions from 1998 producing a combined 9,000 bo/d, according to Petrobras. Currently, the fields have an integrated production system consisting of seven jacket fixed platforms which goes onshore by pipeline from the Garoupa platform to the Cabiunas Terminal. Regarding the transaction, 20% will be paid at the deal signing (US$ 74 million) with the rest to be paid upon final approval and closing of the transaction, subject to adjustments. The transaction is subject also to the usual approval by the ANP and other regulatory agencies. Perenco will operate the concessions with 100% working interest after the deal is closed. The divestment was the result of a competitive bid process by Petrobras as reflected in the company's 2018-2022 Business and Management Plan.
Perenco, acquired the Pargo, Carapeba and Vermelho shallow-water fields from Petrobras for US$370 MM.