Norwegian operator BW Energy has agreed to purchase the Golfinho and Camarupim offshore clusters in Brazil’s Espirito Santo basin from oil giant Petrobras for $75 million.

Of the total amount, BW Energy will make a $3 million payment on the signing of the deal, another $12 million on the closing of the transaction and up to $60 million in contingent payments depending on future Brent crude prices and asset development.

“The acquisition is expected to add approximately 9000 barrels per day of oil production from early 2023,” said BW Energy.