Carmo Energy S.A. signed an agreement to acquire 11 Onshore Concessions in Brazil from Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) for $1.1 billion on December 23, 2021. The consideration will be paid as (a) approximately $280million as a down payment; (b) approximately $550 million at the closing of the transaction and (c) approximately $280 million 12 months after the closing. The Atalaia Cluster, which contains, among other assets, the Aracaju Waterway Terminal (Tecarmo) and the Bonsucesso-Atalaia Oil Pipeline, which flows the oil production from the concessions to Tecarmo are also part of the Carmópolis Cluster.

The amounts do not consider adjustments due until the closing of the transaction, which is subject to compliance with certain precedent conditions, such as approval by the National Petroleum, Natural Gas and Biofuels Agency (ANP). As of January 13, 2022. The superintendent of Brazil's antitrust body Cade has approved energy firm Carmo Energy's acquisition