Petrobras Starts Non-Binding Phase For the Sale of Fields in Bahia

Source: www.gulfoilandgas.com 7/25/2019, Location: South America

Petrobras, following up on the release dated 07/08/2019, announces the beginning of the non-binding phase related to the sale of all its stakes in four onshore fields, located in Bahia, jointly known as Tucano Sul Cluster.

Parties qualified for this phase will receive instructions on the divestment process, including guidelines for the elaboration and submission of non-binding proposals, and access to a virtual data room containing more information about the cluster.

This release complies with Petrobras' divestment methodology and is aligned with the provisions of the special procedure for the sale of rights in exploration, development and production of oil, natural gas and other fluid hydrocarbons, provided for in Decree 9.355/2018.

This operation is in line with the company’s portfolio optimization and improvement of capital allocation, aiming at creating value for our shareholders.

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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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