On February 23, 2023, Grupo Ubuntu completed the acquisition of 100% of the capital stock of PTTEP Brasil Investimentos em Exploração e Produção de Petróleo e Gás Ltda. (PTTEP Brasil). As part of this transition, PTTEP Brasil officially changed its name to Aquamarine Exploração Ltda. (AQUAMARINE).
AQUAMARINE holds a non-operating participation of 23.53% in the consortium of the Exploratory Block located on the coast of Espírito Santo, known as Parque dos Doces, BM-ES-23. Currently, these assets are operated by BW Energy, and the expectation is that oil and gas production will begin in 2028.
