August 5, 2019 / 11:56 AM / 3 months ago

Brazil's Petrobras starts process to sell exploration, production assets

FILE PHOTO: Brazil's state-run Petrobras oil company headquarters is pictured in Rio de Janeiro, Brazil May 27, 2019. REUTERS/Sergio Moraes

RIO DE JANEIRO (Reuters) - Brazilian state-run oil company Petroleo Brasileiro, or Petrobras, said in a statement on Monday it had begun the process of selling exploration and production assets in the state of Espirito Santo.

The company, which is in the midst of selling assets to lower debt, said it was putting up for sale assets in the Peroa and Cangoa areas, as well as in the BM-ES-21 concession.

Reporting by Gabriel Stargardter; Editing by Steve Orlofsky

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