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Brazil's Petrobras puts Colombian exploratory blocks up for sale

FILE PHOTO: A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. REUTERS/Sergio Moraes/File Photo

SAO PAULO (Reuters) - Brazil’s Petrobras said in a securities filing on Monday that it had published a prospectus regarding the sale of its stake in an exploratory block in Colombia, located in the Guajira bay.

The block is known as Tayrona. Petrobras for the past few years has been divesting many of its assets in a bid to raise cash and reduce debt.

In a separate filing, Petrobras said it had paid $3.5 billion in debt attributed to its revolving credit lines. The company said it had used a total of $8 billion from its credit lines to combat the coronavirus pandemic.

Reporting by Marcelo Rochabrun; Editing by Leslie Adler

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