Petrobras has agreed to acquire a 100% interest in a portion of the Argonauta area in the Campos basin, increasing its stake in the Jubarte pre-salt field to 98.11%. The transaction involves interests currently held by Shell Brasil Petróleo Ltda. , ONGC Campos Ltda. , and Enauta Petróleo e Gás Ltda. . The acquired area includes a 0.86% share of the Jubarte shared deposit, governed under a production individualization agreement implemented in 2025. Upon completion, Petrobras' stake in the Jubarte field will increase to 98.11%, with the remaining interest held by Pré-Sal Petróleo S.A. (PPSA) . The deal is valued at R$700 million plus $150 million, to be paid in installments and subject to customary price adjustments. Closing remains contingent on regulatory approvals from Brazil's oil regulator and competition authority. Jubarte is part of the Parque das Baleias development in the northern Campos basin, where Petrobras operates multiple platforms and FPSOs. The area currently produces approximately 210,000 bopd. Petrobras said the acquisition will simplify asset management and support its strategy to concentrate on high-value, producing assets in Brazil's offshore portfolio. The transaction also concludes ongoing negotiations among partners related to production allocation and shared reservoir management in the Jubarte area.