Brazilian Petrobras plans to sell assets in the Gulf of Mexico

Brazilian Petrolea Brazileiro (Petrobras) has began an optional phase of the sale of its assets in the Gulf of Mexico.

The firm has launched an optional phase to sell its 20% stake in the Gulf of Mexico (MPGoM), which has stakes in 14 offshore fields.

Petrobras owns a minority stake in MPGoM through its subsidiary Petrobras America, and the remaining 80% is owned by Murphy Exploration & Production.

The MPGoM Joint Venture (JV) was established by Petrobras and Murphy Exploration & Production in late 2018.

It was formed by merging two firms that produce oil and natural gas in the Gulf of Mexico.

In 2021, the share of Petrobras production in offshore fields was 10,400 barrels of oil equivalent per day.

The sale is in line with the Brazilian national oil company’s portfolio management strategy to improve capital allocation to maximize value.

In a statement to the press, Petrobras said: “Potential buyers who qualify for this stage will receive a letter with details of the aforementioned company, in addition to instructions on the sale process, including instructions on preparing and submitting optional offers. ”

In a separate ad, Petrobras and its subsidiary Petrobras Gás (Gaspetro) gave their stake in the Companhia Maranhense de Gás (Gasmar) to Termogas for $ 11 million (56.9 million rubles).

Petrobras owned 23.5% of Gasmar, a company focused on the distribution and sale of natural gas through pipelines in the Brazilian state of Maranhão.

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