Brazilian independent PetroRio has taken an aggressive step towards building a strong portfolio in the Campos basin off Brazil with the acquisition from BP of two promising pre-salt tracts in the prolific play.

PetroRio has agreed to purchase stakes of 35.7% and 60% from the UK supermajor in blocks BM-C-30 and BM-C-32, respectively, taking over operatorship of the Wahoo and Itaipu pre-salt discoveries.

According to PetroRio, the transaction includes a fixed portion of $100 million, to be divided into five payments between the signing of the deal and its conclusion, plus a $40 million earn-out contingent to the Itaipu unitisation.