UK based Trident Energy, a portfolio company of Warburg Pincus, signed an agreement to acquire the Pampo and Enchova oil fields from Petrobras. Trident will pay $851m for the oil fields and potentially an additional $200m in contractual earn-outs based on crude oil prices.

(Reuters) Brazilian state-controlled oil company Petroleo Brasileiro SA signed on Wednesday two contracts to sell shallow-water oilfields in the basins of Campos and Santos for $1.5 billion plus $200 million in future payments, the company said in a securities filing.

Pampo and Enchova fields were sold to a subsidiary of Trident Energy for $851 million and an additional future payment of $200 million, depending on oil prices. The Bauna field was sold for $665 million to a subsidiary of Australia’s Karoon Energy Ltd.