Petrobras agrees to divest from 37 fields in Brazil

RIO DE JANEIRO, November 29, 2018 – Petrobras has entered into two separate deals to divest stakes in a total of 37 Brazilian concessions, international media reported Wednesday.

The NOC will exit 34 onshore fields in the Potiguar Basin as part of a USD 453-million agreement with 3R Petroleum. The mature fields together produce about 6,000 bopd.

Petrobras also sold the shallow-water Pargo, Carapeba and Vermelho fields in the Campos Basin to Perenco for USD 370 million. Together, those fields produce around 9,000 bopd.

The divestments are in line with Petrobras’ 2018-2022 business plan, which establishes a goal of raising USD 21 billion through asset sales before the end of 2018. The NOC aims to pay down some of its debt with money made through these sales.

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