July 8, 2019 / 5:28 PM / 10 days ago

Brazil's Petrobras begins process of selling stake in onshore natgas fields

FILE PHOTO: Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. REUTERS/Sergio Moraes/File Photo/File Photo

BRASILIA (Reuters) - Brazil’s state-owned oil giant Petrobras has started the process of selling off the so-called Tucano Sul Polo block of four onshore natural gas fields and treatment facilities, the company said in a filing on Monday.

Petroleo Brasileiro SA, as the energy firm is formally known, intends to sell all of its 100% stakes in the four fields of Conceição, Fazenda Matinha, Fazenda Santa Rosa and Querera in the northeastern state of Bahia, according to the company’s statement.

The transaction is in line with the company’s strategy of “optimizing” its portfolio, Petrobras added.

Reporting by Jamie McGeever; Editing by David Gregorio

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