Petro-Victory Energy (TSE:VRY) has released an update.
Petro-Victory Energy Corp. has partnered with Azevedo Travassos Petroleo S/A to develop the Andorinha field and Block POT-T-281 in Brazil’s Potiguar Basin, with Azevedo financing the initial work program for a 75% income share until costs are recovered. Afterward, profits will be evenly split, while Petro-Victory retains operational control. This alliance is set to enhance both companies’ market reach and operational synergies.
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