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Brazil's Petrobras to Start Binding Phase to Sell Africa Unit

Source: Reuters 3/8/2018, Location: Africa

Brazil’s state-controlled oil company Petr?leo Brasileiro SA said on Thursday to start the binding phase in the process to sell 100 percent of subsidiary Petrobras Oil & Gas B.V., according to a securities filing.

The subsidiary, known as Petrobras Africa, participates in two deepwater oil exploration blocks off the coast of Nigeria that contain the Akpo and Agbami producing fields and are operated by Total SA and Chevron Corp respectively.

In this phase, Petrobras will instruct interested investors on how to proceed with due diligence and to present the binding proposals.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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