Petrobras has exercised its right of first refusal to acquire Petronas Petróleo Brasil’s 50% stake in the Tartaruga Verde field and the Espadarte Module III development in Brazil’s Campos Basin, a move that would restore the state-controlled company to full ownership of the assets. The transaction is valued at $450 million, Petrobras said Monday, with the deal structured through staged payments. The company will pay $50 million upon signing, $350 million at closing, and two deferred installments of $25 ...