He J&F Group, the largest private holding company in Brazil, announced his entry into the oil and gas industry with an operation that involves oil fields in the Argentina.
The group led by brothers Joesley and Wesley Batista, has just acquired the Brazilian company Fluxus, which was created this year by Brazilian entrepreneurs to invest in the sector in their country and Latin America.
They are taking their first step with the acquisition of Pluspetrol fields in Vaca Muerta and Salta.
Fluxus will buy all of Block 1, Block 2 and Block Center of the Centenario field, located in the province of Neuquen, in addition to 33% of Ramos’ field, in the province of Jumpboth operated by Pluspetrol.
The former founders of Fluxus – Ricardo Savini, Jorge Lorenzón and Vitor Abreu – will continue to play key roles in the company’s leadership, J&F said in a statement.
Savini, who will remain CEO, prior to Fluxus, founded and was president of 3R Petroleum, a company listed on the Brazilian Stock Exchange.
Fluxus will be the J&F Group’s investment platform in the hydrocarbons sector in Latin America.
“We are very optimistic about the opportunities that the region presents in oil, gas and energy. After this first deal in Argentina, we are analyzing investments in Brazil, Bolivia and Venezuela, among other countries,” Savini stated.
The Batista brothers increased the family fortune created by the global expansion of the JBS refrigerator and diversified.
They own one of the largest pulp producers in the world (Eldorado Brazil) and have assets in energy (Âmbar), mining (J&F Mineração), financial services (Picpay), hygiene and cosmetics (Flora) and communication (Canal Rural).
The company’s main asset is its 49% stake in JBS, which is worth about $4.1 billion.