July 20, 2018 / 10:34 PM / 25 days ago

Petrobras enters binding phase for Sergipe-Alagoas concessions

RIO DE JANEIRO (Reuters) - Brazil’s state-led oil company Petrobras entered the binding phase for the partial sale of four concessions in the deep off-shore waters of the Sergipe-Alagoas Basin, the company said in a securities filing on Friday.

The concession sales, which do not involve transfer of control over the operations, include the following blocks: BM-SEAL-4, BM-SEAL-4A, BM-SEAL-10 and BM-SEAL-11.

Potential buyers will receive invitations and gain access to more information on the blocks during this phase, along with instructions for making proposals and doing due diligence.

Reporting by Marta Nogueira; Editing by Sandra Maler

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