Petro-Victory enters mature Brazilian fields

RIO DE JANEIRO, October 29, 2018 – Independent E&P player Petro-Victory Energy has completed a deal to take on 50% working interests in five mature Brazilian fields located in the Espírito Santo Basin, the company announced in a press statement on Friday.

Subject to the approval of Brazil’s oil and gas regulator, Petro-Victory will join operator Imetame Energia in the onshore areas, which are “highly prospective, low risk and oil prone.”

“These assets position us nicely in the producing Espírito Santo Basin and represent a significant step forward as we build the Petro-Victory portfolio,” CEO Richard F. Gonzalez said. “We are currently finalising our work programmes with Imetame and will update our investors and the market upon completion.”

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