Brazil’s state-run oil company Petrobras (NYSE: PBR) on May 23 said it would start receiving proposals for certain deepwater assets in the Sergipe-Alagoas basin as part of a divestment program aimed at bringing down debt levels.
Petrobras, as the firm is known, said in a securities filing it would sell stakes of between 20% and 50% in four blocks in the area, transferring rights to explore, develop and produce oil.
In a separate filing on May 23, Petrobras said it had extended the deadline to receive bids related to its Tartaruga Verde, Módulo III of Espadarte, and Baúna fields, without providing additional details.
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