Brazil's Brava Energia snaps up Petronas stakes in offshore assets for $450m

Kovacs, who had been serving as Brava's chairman, was announced as the company's new CEO on Monday, effective February 1. He will replace Decio Oddone.

Tartaruga Verde and the Module III of the Espadarte field produced together an average of 55,600 barrels of oil equivalent per day (boed) last year, Brava said. It noted most of the output was oil.

The production numbers are for 100 per cent of the fields, Brava said. Brazilian state-run oil firm Petrobras owns the remaining stake in the assets.

(Reporting by Marta Nogueira; Writing by Andre Romani; Editing by Gabriel Araujo)