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Petrobras Releases Information On Its Divestment Program

Brazilian state-run Petrobras oil company has released information on the commencement of the non-binding phase in relation to the assignment of the whole of its exploration, production and development rights in seven groups of shallow oil fields situated in the states of Rio Grande do Norte, Rio de Janeiro, São Paulo, Sergipe and Ceará.

The company says its stake in oil and natural gas production from these fields in the first semester of 2017 was an average of seventy three thousand barrels of oil equivalent every day.

During this phase of the project, for every divestment opportunity, the interested parties that qualified in the preceding stage receive more comprehensive information regarding the assets. The parties are able to access a virtual data room and also get instructions relating to the divestment procedure, including guidelines on how they should prepare and submit the non-binding proposals.

The current announcement to the market was made in conformance to the company’s divestiture program and are in line with the guidelines established by the Brazilian Federal Accounting Court(also known as TCU).

Source: Firmex.com

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