BRAVA has announced that its subsidiary 3R Petroleum Offshore was authorized to proceed with the transfer of a 37.5% interest in the Campo de Papa-Terra consortium previously held by Nova Técnica Energy Ltda..
The authorization was issued on 15 February 2026 as part of ongoing arbitration between the parties. The decision allows the company to initiate formal steps required for the transfer, including regulatory filings with ANP, and other authorities.
The participation transfer remains reversible until a final arbitration ruling is issued, and the 37.5% stake cannot be sold or transferred to third parties during the process.
The dispute originated in May 2024 following proceedings initiated by 3R Offshore related to contractual obligations within the Papa-Terra joint operating agreement.
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