Brazil: Petrobras puts offshore E&P Oil, Gas assets for sale

Petrobras is putting up for sale two operating shallow-water offshore gas fields and a deepwater oil exploration concession in the Espírito Santo Basin, as part of efforts to optimize its portfolio and improve capital allocation, Brazil’s state-owned oil and gas firm said on Friday.

Petrobras has launched the opportunity disclosure stage, for the sale of its 100-percent stakes in the gas fields Peroá and Cangoá, and its 88.9-percent interest in the deepwater Malombe oil field, where oil was discovered in 2011.

At the beginning of this year, reports emerged that Brazil was pushing for major state-owned companies, including Petrobras, to privatize some subsidiaries as the Brazilian government of new far-right President Jair Bolsonaro looks to raise US$20 billion in state asset sales in 2019.