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Petrobras begins binding phase for sale of 8 onshore fields in Brazil

Aug 27, 2019 - SNL Energy Finance Daily

State-owned oil giant Petróleo Brasileiro SA started the binding phase of its plan to divest its stakes in eight onshore exploration and production concessions called the Rio Ventura cluster, according to an Aug. 26 securities filing.

The Rio Ventura cluster is in the Brazilian state of Bahia and is composed of eight onshore fields that produced an average 1,500 barrels of oil per day and 43,000 cubic meters of gas per day in 2018.

Petrobras in late June announced it began the nonbi...