Brava Energia, a Brazilian oil company, has entered into a three-year agreement to supply natural gas to Comgas, a leading gas distributor in Sao Paulo.

The contract, set to commence in January 2025, stipulates the supply of natural gas volumes ranging from 150,000 to 450,000cm/d, aligned with the buyer's demand forecast, the company stated.

The sale price for the gas delivered to Comgas is set at 11% of Brent (in dollars per million British thermal units).

The gas will be sourced from the company's operations in Recôncavo Baiano, Espírito Santo and Rio Grande do Norte, integrated into various transport networks.

This setup allows flexibility in adjusting the supply profile to meet the consumption needs of Comgas customers throughout the year.

Brava said in a statement: "This initiative strengthens gas trading activities and marks the expansion of the company's presence in the segment and in the south-east region.”

This contract marks Brava Energia's first natural gas supply agreement in the regions serviced by gas carriers NTS and TBG.

Earlier this month, Petro-Victory Energy, in partnership with Azevedo e Travassos Petroleo, signed an agreement with Brava Energia for the acquisition of 13 oil-producing fields in Brazil’s Potiguar basin.

The deal, signed on 17 December 2024, includes the Porto Carao Cluster and the Barrinha Cluster.

The Porto Carao Cluster, located in the Potiguar onshore basin near Guamare in Rio Grande do Norte, comprises four concession contracts with four oil-producing fields.

The Barrinha Cluster, also in the Potiguar onshore basin near Mossoro, consists of seven concession contracts covering nine oil-producing fields.

Brava Energia was formed by the merger of 3R Petroleum and Enauta earlier this year, creating one of the largest diversified oil and gas companies in Latin America.